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Enjoy Reading! 7.15 PM Jan 6th. The promoter group collectively holds 2,89,16,12,567 equity shares of the company representing 74.97 per of the paid-up equity share capital. Adani Power's delisting proposal is set at a floor price of Rs33.82 per share. We are likely to conclude delisting by December or till the end of this financial year,” Sardana said responding … Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Adani Transmission Ltd (ATL), which is the transmission and distribution arm of the Adani Group also declared its Q2 results on Thursday. The merchant banker appointed by the board earlier in June had stated in its report that "the delisting proposal is in interest of shareholders of the company". Adani Power surged 7.69percent to Rs 39.20 after the company said its board will meet on 3 June 2020 to consider a proposal to delist equity shares from the domestic stock exchanges. In the last 12 months, share prices of Adani Power fell from a high of Rs. The Company has informed that after the receipt of the due diligence report from the merchant banker, the board will again meet to discuss the delisting proposal in detail. Benchmarks . In such a scenario, Adani Power seems to have fallen off the radar of investors, said a trader. The Adani Power stock ended the … Mostly writes on Idea Cellular, Tanla Solutions, Adani Power. Adani Power promoters intend to buyback all shares of the company and delist it. Adani Power… Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. 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Adani Mumbai Electricity Limited, which is a wholly owned subsidiary of ATL is one of the power distributors in Mumbai. Adani Power Delisting-Full Details || Explained by Vipul Kaushikk - YouTube. Adani Power gets shareholders' nod for delisting Earlier in May, the APPL had proposed the delisting of the company from stock exchanges. Copyright © e-Eighteen.com Ltd. All rights reserved. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. Big retail players look to expand business, bank on post-pandemic boom... Whirlpool Q3 PAT seen up 57.7% YoY to Rs. ALSO READ: Adani's Australia coal unit back in the spotlight after name change. Key Developments. Kindly visit the Manage my subscription page to discover the benefits of this programme. Copyrights © 2021 Business Standard Private Ltd. All rights reserved. “We have received approval from close to six lenders. Share price of Adani Power rose 9.89% to Rs 40 intra day against previous close of Rs 36.40 on BSE The decision on this will be taken in the next board meeting of the company. Kindly follow our Code of Conduct and refrain from posting any abusive, promotional or gibberish content on forum. India’s fifth richest man, Gautam Adani, is considering taking his energy utilities firm, Adani Power off the stock markets. News. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". Another is a HVDC system which will add another 1,000 Mw supply to Mumbai. Adani Power board on Wednesday appointed merchant banker Vivro Financial Services Pvt Ltd to evaluate the proposal to delist its equity shares from BSE and National Stock Exchange. Apollo Hospital 1,777.10 88.2. “Khargar-Vikhroli system which will bring for first time 400 kV supply to the city has been fast forwarded by the authorities. Click below to know more about the Adani Group's pan-India COVID19 relief measures. Adani Power surged 7.69% to Rs 39.20 after the company said its board will meet on 3 June 2020 to consider a proposal to delist equity shares from the domestic stock exchanges. The Adani Group’s power arm, Adani Power has announced the appointment of Vivro Financial Services as the merchant banker to evaluate its proposal of delisting its equity shares from BSE and NSE. Adani Power issued a notice for voluntary delisting of equity shares of the company from BSE Limited and National Stock Exchange of India Limited, a regulatory filing stated.The board of Adani Power had approved the proposal to delist company shares from stock exchanges on Monday. Reproduction of news articles, photos, videos or any other content in whole or in part in any form 172@29@17@144!~!172@29@0@53!~!|news|business|markets|adani-power-gets-shareholders-nod-for-delisting-5595321.html!~!news|moneycontrol|com!~!|controller|infinite_scroll_article.php!~!is_mobile=false, Crude oil futures down nearly 1% at Rs 3,866 per barrel on weak demand. As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. Adani Power board approves delisting from BSE, NSE In a regulatory filing, the company said it will seek shareholders nod for delisting on BSE and NSE through a postal ballot. At current prices, the stock looks highly overvalued and … People. View all . Comment . New, May 31 (PTI) Adani Power board will consider a proposal to delist its entire equity shares from the BSE and NSE in its meeting scheduled on Wednesday. All Listings Commenting on the power outage that Mumbai faced last month, Sardana said efforts are ongoing to boost the power supply capacity in the city. Taking cognizance of the announcement the Adani Power shares surged 8.14% on Sensex to trade Rs 39.20 per share. Share price of Adani Power rose 9.89% to Rs 40 intra day against previous close of Rs 36.40 on BSE Adani Power on Tuesday sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. The company has worked out the floor price of Rs 33.82 per share to buy 96.53 crore equity shares with the public for about Rs 3,264 crore. Adani Properties fixed the floor price at Rs 33.82 a share, based on the recommendations of CA firm Dharmesh Parikh & Co. Adani Power will now seek shareholders’ nod on the delisting … We are likely to conclude delisting by December or till the end of this financial year,” Sardana said responding to a query. From a shareholder’s perspective, a company which is delisting its shares voluntarily will keep its shareholders informed at different stages. The world may have come to a standstill but Adani Power will continue to illuminate millions of homes as India combats the darkness of COVID-19 outbreak. If playback doesn't begin shortly, try restarting your device. The company has announced the floor price of a share at Rs 33.82 to buy 96.53 crore shares with the public for about Rs 3,264 crore. Our Footprints. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. The post Adani Electrical power Ltd.: Adani Power receives shareholders’ nod for delisting appeared first on BuddyMantra News. Addressing the media after results, Sardana said the company is looking forward to the power transmission projects which the central government will offer under tariff based competitive bidding. Farmers' Protest LIVE Updates | Narendra Tomar asks farmer groups to be 'flexible' during 9th round of talks, Fundamental, Stock Ideas, Multibaggers & Insights, Stock & Index F&O Trading Calls & Market Analysis, Positional and Intraday Trading Calls basis Noiseless Chart, Commodity Trading Calls & Market Analysis, Currency Derivatives Trading Calls & Insights, Options Trading Advice and Market Analysis, Model portfolios, Investment Ideas, Guru Screens and Much More, Proprietary system driven Rule Based Trading calls, Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas, Details stock report and investment recommendation. Adani power delisting Adani power share delisting. Adani Group’s power arm, Adani Power Limited, will delist its shares at a nearly 12 per cent discount from the closing price of the stock on Monday. Adani Power has a power generation capacity of 12,410 megawatts across six states in India. The power generation firm’s board is set to meet on 3 June to consider the delisting proposal.Adani Power’s share price has halved from a high of ₹73.75 to the current level of ₹36.40 Profile. Announcements made in the month of May by Vedanta and Adani Power livened the debate on whether delisting the stock at a time of distress in asset markets can extend an undue advantage to the promoters. Adani Power's share price has halved in the last twelve months from a high of Rs 73.75 to the current level of Rs 37.95. NSE Gainer-Large Cap . 5Y Return. On Monday, Adani Power shares surged 10% as Gautam Adani declared that he plans to delist his group's power utility, Adani Power close on the heels of Anil Agarwal announcing the delisting plans of Vedanta Ltd. Adani Power promoters intend to buy back all shares of the company and delist it from the bourses. In a filing to the market regulator, Adani power said that the promoter group has expressed the intention to delist the company, either by itself or together with other members of the Promoter Group. Adani Power will be 90 when it will be opened for delisting in Q4. Upcoming Power Plant. Ltd. Price when posted : NSE: Rs. Digital Editor. This will add 1,000 Mw. 7.40 AM Dec 29th. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Shares of Adani Power on the BSE on Friday closed at Rs 36.40, higher by 0.97 per cent from its previous close. Adani Power on Friday informed the exchanges it had received a delisting proposal from Adani Properties, which is a member of the promoter and promoter group. In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. Follow. Shares of Adani Power fell .43 for every cent to Rs 35 apiece on the BSE on Friday. New Delhi  Other lenders would also approve. "...(delisting) resolution as set out in the notice has been passed with the requisite majority on July 23, 2020, being the last date specified for remote e-voting," a regulatory filing stated. The … Google - Adani Power gets shareholders nod for delisting. Adani Power share price gained nearly 10% today after the firm said it would consider delisting of its stock from the bourses during its board meeting scheduled on Wednesday. Last Updated at November 6, 2020 10:16 IST. Adani Power Maharashtra Ltd (APML) runs 3,300 MW power plant at Tiroda in Maharashtra. Businesses. Adani Power on Tuesday sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. Topics In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. In case of delisting of Adani Power shares, given the low valuations due to market correction in March 2020, it can be considered as an attempt by the promoters to increase their stake at attractive prices. Public shareholders hold 96,53,26,374 equity shares, which correspond to 25.03 per cent of the paid-up equity share capital. 50.70. thanks dear Ravi for the reply,some 8 years back i invested here heavily at around 30_40 but that time since it was not moving i moved out but now again the scrip has attracted me ,so i will invest some money here ,thanks dear. It had also placed on record that APPL (Adani Properties Private Ltd) and other members of the Promoter Group or their related entities are in compliance with delisting regulations". Mumbai: Billionaire Gautam Adani plans to delist his group’s power utility, Adani Power close on the heels of Anil Agarwal announcing the delisting plans of Vedanta Ltd. 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