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. Share price of Adani Power rose 9.89% to Rs 40 intra day against previous close of Rs 36.40 on BSE. 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. Hindi; Gujarati; Specials. Facebook Twitter LinkedIn WhatsApp Telegram Share via Email. Adani Power on Wednesday claimed that its thermal unit at its 4,620 MW Mundra power plant has created a national record by running continuously for 600 days and generating 4,142.56 units of electricity. The board of Adani Power on Monday approved the delisting of its shares from the exchanges at the floor price of Rs 33.82. Adani Power shares gained nearly 9 per cent on Monday after Gautam Adani- promoted electric utilities company said it will consider delisting of … Adani Power board to consider delisting from BSE, NSE on Wednesday The company has received letter on May 29. "Meeting of board of directors of Adani Power to be held on June 3, 2020 to consider the proposal for voluntary delisting of the equity shares of the company received from Adani Properties and related matters incidental thereto," the company said in a regulatory filing. 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 shares declined up to 5 per cent intraday on Monday, but recovered to close at Rs 38.20 on the Bombay Stock Exchange, up 0.5 per cent. Adani Power shed 0.92percent to Rs 37.65 after the board approved the proposal to voluntarily delist shares at a floor price of Rs 33.82 per share. Disclaimer : The views expressed in the forum are the views of the user writing the post, and not that of moneycontrol.com.You agree, by accessing this forum, that moneycontrol.com bears no liability for any posts on this forum or, any losses suffered by following any advice posted on this forum.moneycontrol.com operates this real time, open, unmoderated, private forum for users to … 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 shares gained nearly 9 per cent on Monday after Gautam Adani- promoted electric utilities company said it will consider delisting of … The Adani Power Board will consider the proposal to distribute its entire equity shares from BSE and NSE in its meeting on Wednesday. 37.55, down by 1.18%, with a volume of 14.67 lakh shares on the BSE. Adani Transmission Ltd (ATL), which is the transmission and distribution arm of the Adani Group also declared its Q2 results on Thursday. 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. 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. The Adani Power stock ended the day marginally higher after the company’s Board of Directors approved voluntary delisting at ₹33.82, which is 10% below the closing share price on June 19. Latest News. Each share has a face value of Rs 10. msn back to msn home news powered by Microsoft News Adani Green +1029.48% 2. It closed 8.65% higher at Rs 39.55 on BSE. Mar 01, 2017, 15:52 PM IST Overall, the proposal includes delisting of 96.53cr equity shares with the public for approximately Rs3,264cr. Adani Power on Friday said it has received shareholders' approval for its Rs 3,264-crore delisting proposal. Adani Power board will consider a proposal to delist its entire equity shares from the BSE and NSE in its meeting scheduled on Wednesday. The stock has gained 9.71% in two days. Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. Adani Gas +131.62% 3. Adani Power board on Monday approved the proposal to delist the company’s equity shares from stock exchanges. Adani Power board to consider delisting from BSE, NSE on Wednesday The company has received letter on May 29. Over the last decade, the two companies have demonstrated volatility in their debt to equity ratio. SEBI must ensure that interest of the investors is fully protected. Download The Economic Times News App to get Daily Market Updates & Live Business News. In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. Adani Green has set a target of 25GW of renewable projects by 2025. The company has worked out the floor price of … Business News » Markets News Burger King, SBI Life, HDFC Life, ICICI Prudential Life to Adani Power - here are top Buzzing Stocks today Technology stocks were the lead Nifty 50 gainers, with Infosys, Wipro & HCL Tech, and rising 4.55%, 4.02% and 3.87% respectively. 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. For matters relating to voluntary existing and related matters of equity shares of the company acquired from Adani Properties Private Limited, the Board of Directors of Adani Power Limited will meet on … Adani Power Ltd on Monday gave the final nod to its voluntarily delisting of equity shares at Rs 33.82 which is 10 per cent less than its previous closing of Rs 38 on Friday. The board of Adani Power Ltd (APL), a part of the diversified Adani Group, has provided its consent on the proposal for delisting of the company’s equity shares from the stock exchanges i.e. At 1.10 pm, Adani Power was trading at Rs. Today, it has a power generation capacity of 12,410MW across six Indian states. However, the stock has gained 25% in one month. Adani Port +5.60% 6. All News Author. The delisting rules should be more stringent and delisting should be allowed only in rare/exceptional cases. Not fare I bought this share in the range of INR70, They are looting retail investors. Performance of Subsidiary Companies of Adani Group Over The Last One year. @marketstodays. Adani Power board approves delisting from BSE, NSE ... Markets Today . It is shocking that the promoters are now (in June 2020 in the midst of the COVID-19 pandemic) proposing delisting of the shares of Adani Power at a time when the share price is languishing at around Rs.38 per share. Having issued the shares in IPO at Rs.100 to investors and then offering RS.33.80 to them during the slump time when the country is facing pandemic crisi is swindling/looting the investors. ALSO READ: Adani's Australia coal unit back in the spotlight after name change. It has lost 21% in one year and fallen 36% since the beginning of this year. Adani Trans +44.39% 5. Tomorrow is different. “The meeting of board of directors of Adani Power to be held on Wednesday, June 03, 2020 to consider the proposal for voluntary delisting of the equity shares of the Company … Adani Power’s Board will meet on June 3, to consider the proposal for voluntary delisting of the equity shares of the Company received from Adani Properties Private Limited, the company said. Adani will learn today if it has the final state approval it needs to get on with building its Queensland coal mine amid fears for a million-year-old ecosystem. 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. Adani Power's delisting proposal is set at a floor price of Rs33.82 per share. Adani Power board to consider delisting from BSE, NSE on Wednesday The company has received letter on May 29. It is a highly unethical game by industrialists and a corporate malpractice which should not be allowed by SEBI. 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. +Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. The board approves voluntary delisting with floor price of Rs. Days Trial Adani Power Share Price, Adani Power Stock Price, Adani Power Ltd. Stock/Share prices, Adani Power Ltd. Live BSE/NSE, F&O Quote of Adani Power Ltd. with Historic price charts for NSE / BSE. IDBI Bank share gains 20% as govt stake sale in lender likely to be delayed, RIL rights issue subscribed 1.1 times, offer to close on June 3. Your Reason has been Reported to the admin. Adani Power Board Gives Nod for Delisting from Indian Bourses. This is at a … The Adani Power board on June 3 will also discuss the appointment of a merchant banker registered with SEBI for carrying out due diligence as required in terms of Regulation 8(1A)(ii) of the SEBI Delisting Regulations. Adani Power sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. Comprehensive up-to-date news coverage about "Delisting", aggregated from sources all over the world by Knowledia News. For reprint rights: Having issued shares in IPO at Rs.100 and then delIsting them at Rs.33.80 at the time of crisis when the country is grappling with pandemic amounts to swindling the investors and forfeiting their faith. Unit-4 at Mundra plant runs for record 600 days: Adani Power. Adani Power approves delisting of equity shares at Rs 33.82. Nifty 11,516.10-88.45. 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. Final nod to its voluntarily delisting of 96.53cr equity shares from stock exchanges Tax Relief 96 Direct-Growt.. adani sought. Consider a proposal to delist seeking comments Group over the Last decade, proposal! 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