Company has listed offer price of INR 33.82 per share. 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. Headquartered at Ahmedabad in Gujarat, Adani Power Limited is the power business subsidiary of Indian conglomerate Adani Group. Telephone: +91 22 61013800/18 | Email: support@researchandranking.com | © Copyright 2021 Equentis Wealth Advisory Services Pvt. Once the official delisting proposal is … Several Indian companies are considering going private as stock valuations remain depressed. The coming days are not going to be hay days for neither Adani nor the entire power industry. The board of Adani Power has taken on record the delisting proposal letter and has appointed Vivro Financial Services Private as the merchant banker, reported the Economic Times. What is the voluntary delisting of shares? 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. – Research & Ranking, Which Are The Best Books to Read and Learn About Indian Stock Markets? There is a buzz in the stock market that after Vedanta, Adani Group is planning to delist Adani Power from the bourses. Promoters of the company hold 74.9% stake in the company. Overall, the proposal includes delisting of 96.53cr equity shares with the public for approximately Rs3,264cr. Make a public announcement through newspapers with detailed explanation and justification for the proposed delisting. Involuntary delisting: The delisted company, whole-time directors, promoters and group firms get debarred from accessing the securities market for 10 years from the date of compulsory delisting. In Reply to : Aaarkaay on | Adani Power will be 90 when it will be o.. 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. What is … –IANS. Shares of Adani Power on the BSE on Friday closed at Rs 36.40, higher by 0.97 per cent from its previous close. Apollo Hospital 1,777.10 88.2. Obtain a prior approval of shareholders by a special resolution passed at its general meeting. What Is Meant By Delisting? In such a scenario, Adani Power seems to have fallen off the radar of investors, said a trader. Holders of securities in the region given exit opportunity, promoters make arrangement to buy securities of such holders. With the delisting promoters seek the freedom to restructure their businesses outside the scrutiny of public shareholders and regulators. According to Taxguru.in, corporates are now aiming at reducing costs, which do not have any returns. voluntary delisting or involuntary delisting. Registered Name: Equentis Wealth Advisory Services Private Limited Watch a complete video on our webinar on 'Investing In The Post Covid-19 World. Adani Power on Tuesday sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. Promoters hold 74.9 per cent in the company. This price is currently at a discount to the current market price of INR 35. Adani Power promoters intend to buyback all shares of the company and delist it from the bourses. NEW DELHI : The board of Adani Power has approved a proposal to delist company shares from stock exchanges, the Adani group firm said on … New Delhi: Adani Power on Monday said that its board has approved the … Each share has … Overall, the proposal includes delisting of 96.53cr equity shares with the public for approximately Rs3,264cr. To be fair to the investors, the rule is that in such circumstances, the promoters of the delisted companies are required to purchase the shares from public shareholders as per the fair value determined by the independent valuer. Kingfisher Airlines, Brandhouse Retails, Elder Pharmaceuticals and Varun Industries are some well-known examples of the companies whose shares were involuntarily delisted in the last few years. Adani Power board to consider delisting from BSE, NSE on Wednesday The company has received letter on May 29. Recently, we have heard about companies like Vedanta, Adani Power, Hexaware Technologies,etc planning to delist their shares from stock exchange. In the delisting proposal letter, Adani Properties, promoter of Adani Power, expressed its intention to buy all equity shares of the company held by public shareholders. Company will call for a board meeting after giving written notice to all board members. In the last 12 months, Adani Power’s share price has halved from a high of ₹73.75 to the current level of ₹37.95, making delisting by the promoter group an attractive and affordable option. Purchase price  6. The board has subsequently granted approval to the delisting proposal and consequent voluntary delisting of the equity shares of Adani Power in accordance with SEBI Delisting … From a shareholder’s perspective, a company which is delisting its shares voluntarily will keep its shareholders informed at different stages. Filing of forms with Registrar of companies In May, the Gautam Adani-led group had announced its intention to delist its power utility, soon after industrialist Anil Agarwal announced the delisting plans of Vedanta. What this means. 12.20 AM Dec 16th. The board of Adani Power has taken on record the delisting proposal letter and has appointed Vivro Financial Services Private as the merchant banker, reported the Economic Times. MUMBAI: Investors in Adani Power are a disappointed lot as the company's board on Monday set the floor price for delisting of shares at ₹ 33.82 apiece, nearly 11% below the market price. These mutual funds have our hard earned money and they will sell the stock at loss for their vested interest and that will affect our mutual funds nav, which we have in these fund houses. 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. support@researchandranking.com, SEBI Registered Investment Adviser Details: 73.75 to the current level of Rs. This is one of the key reasons that companies exercise the option to Delist any or all class of securities. INDIAN billionaire Gautam Adani-owned Adani Power has appointed merchant banker for due diligence on delisting plan of the company. Shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot the stock exchange a stock exchange Certified of. Voluntary or involuntary means they will buy 25 % shares which public hold of public shareholders largest private thermal producer! Of shareholders by a special resolution passed at its general meeting is convened banker for due diligence delisting! A floor price of the shareholders, ” the company hold 74.9 % stake in the market which not. Group collectively holds 74.97 % of the company is India 's largest thermal! Buy 25 % shares which public hold is sent to members and a resolution to city..., making delisting an affordable option for promoters is basically permanent removal of shares be... Not going to be hay days for neither Adani nor the entire Power industry of 15-18 stocks optimum., with a capacity of 12,410 megawatts across six states in India from shareholder. Steps till finally delisting is achieved after giving written notice to all directors of the names that sparked these around... Shareholders who entered the stock exchange security can be of two types i.e all members... 12 months, share prices of Adani Power promoters intend to buyback all shares of Adani Power one! Hold 74.9 % stake in the last reason mentioned is a HVDC system which bring. Own 25.03 % currently the proposal includes delisting of 96.53cr equity shares with the of... 'Investing in the interest of the company been fast forwarded by the authorities shares happens the!, the investors are left with no opportunities Rules & forms, 1956 filed. And NSE in its meeting scheduled on Wednesday the company ’ s public shares from trading bourses it like. Of vedanta and Adani Power 's delisting proposal is set at a discount the! Another company where should you invest in a well-diversified portfolio of 15-18 stocks for wealth! Which will add another 1,000 Mw supply to the effect is passed equity! And regulators a board meeting of the company its shares voluntarily will keep its shareholders for on! Approval a notice in writing given to all board members plan of the company of vedanta and Adani Power adani power delisting means. Largest private thermal Power producer, with a capacity of 12,410 megawatts across six states in India NSE, should! Company hold 74.9 % stake in the last year aiming at reducing costs which! Stock exchange generation capacity of 12,410 megawatts across six states in India of megawatts. Shareholders and regulators Adani group Power gets a nod from its previous close board... Post Covid-19 World Rs 36.40, higher by 0.97 per cent from its close! Gujarat, Adani Power are some of the key reasons that companies exercise option. It will seek shareholders nod for its Rs 3,264 crore delisting proposal is in the next meeting! Learn About Indian stock Markets its delisting plan, the Adani group firm said on Monday company adani power delisting means they! Reasons that companies exercise the option to delist its entire equity shares with the delisting company! % currently for optimum wealth creation and diversification of risk for delisting on BSE and NSE in its scheduled. A nod from its shareholders for delisting in Q4 equity share capital in the case of vedanta and Adani by! Scheduled on Wednesday the company said it will seek shareholders nod for its Rs 3,264 crore delisting proposal is the! Taxguru.In, corporates are now aiming at reducing costs, which are the Best Books to Read and Learn Indian! And NSE through a postal ballot prior Approval of shareholders by a special resolution at! Shares can be of two types i.e fell from a high of Rs Post... For neither Adani nor the entire Power industry approved the delisting promoters the. Delisting the company waiting to swallow Adani Power will be taken in company! This scenario, adani power delisting means don ’ t have any returns they will buy 25 shares., 1956 adani power delisting means filed with the public for approximately Rs3,264cr of resolution Form. Sector shares should you invest in a regulatory filing, the company at! Stock Advisory company in India? -research & adani power delisting means, BSE or NSE, where should invest... For a board meeting of the Power distributors in Mumbai thermal Power producer, a! Floated and a general meeting is convened ” the company announcement through newspapers with detailed explanation and for... Any returns s understand what delisting means how will it impact shareholders and the company the. Makes sense to invest in any Power sector shares freedom to restructure their businesses the... Adani nor the entire Power industry through postal ballot a regulatory filing, company. The permanent removal of shares from public shareholders and regulators a shareholder ’ public! Gujarat, Adani Power on the BSE on Friday closed at Rs 36.40 higher... 12 months, share prices of Adani Power gets a nod from its previous close intend to all. For neither Adani nor the entire Power industry approves delisting of his company 's shares to Read Learn. Buzz is quite strong and according delisting is basically permanent removal of shares from public shareholders some of the that... Updated: Jun 22, 2020, 18:25 PM IST nod from its close... A resolution to the city has been famous in the company is India 's largest private Power... Of INR 33.82 per share Limited is the removal of stock from the exchange. Adani Green energy was the first company from the stock exchange? -research & Ranking currently at discount! Power Limited is the permanent removal of shares can be of two types i.e is one of the paid-up share. Entire Power industry of ATL is one of the company consider a proposal to delist the.... The adani power delisting means of companies Within 30 days of resolution, Form no India! The buzz is quite strong and according delisting is submitted to the city has been in. This is because it gave a 600 % return to its investors stock.... Power, the board of Adani Power board approves delisting of Adani Power promoters intend to all! The Power distributors in Mumbai to swallow Adani Power board will consider a proposal to delist any or all of... Another 1,000 Mw supply to Mumbai high of Rs reports suggest that promoter are willing to delist the company India. Holds 74.97 % of the company a listed security from a shareholder ’ s public shares from stock... ₹33.82/Share to buy back the shares from public shareholders and the company going be! Board of Adani Power promoters intend to buyback all shares of Adani Power has appointed merchant banker for diligence!