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adani power share delisting date

Overall, the proposal includes delisting of 96.53cr equity shares with the public for approximately Rs3,264cr. Adani Power has a power generation capacity of 12,410 megawatts across six states in India. Try to avoid outside hyperlinks inside the comment. 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. The board of Adani Power had approved the proposal to delist company shares from stock exchanges last month. The decision on this will be taken in the next board meeting of the company. Shares of the company closed at Rs 37.70 on the Bombay Stock Exchange on Wednesday, having almost declined to its year’s high of Rs 73.75 that was touched in November last year. "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 … Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Adani Power in July this year received the shareholders' nod for its Rs 3,264 crore delisting proposal. NEW DELHI: The Board of Directors of Adani Power Ltd (APL) on Monday approved a proposal to delist the company from the stock exchanges. It informed exchanges that the delisting proposal of May 29 was approved in the board of directors meeting. Adani Mumbai Electricity Limited, which is a wholly owned subsidiary of ATL is one of the power distributors in Mumbai. "...(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. Thousands gather in Haridwar, Mohanlal to Dulquer Salmaan, Malayalam filmstars thank CM Pinarayi Vijayan for 'standing with movie industry', India vs Australia: Indian fans are fuming on Twitter after drawn Sydney Test, these are the reasons. Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. All the comments will be moderated by the newindianexpress.com editorial. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. The board of Adani Power had approved the proposal to delist … The public shareholders hold 96,53,26,374 equity shares which corresponds to 25.03 per cent of the paid-up equity share capital of the company,” it said. The total expenses reduced to Rs 5,898.35 crore from Rs 6,658.44 crore in the year-ago period. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Disclaimer : We respect your thoughts and views! 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. The proposal had been first introduced by one of APL’s promoter companies — Adani Properties Private Ltd (APPL) — late last month. Adani Transmission Ltd (ATL), which is the transmission and distribution arm of the Adani Group also declared its Q2 results on Thursday. “Khargar-Vikhroli system which will bring for first time 400 kV supply to the city has been fast forwarded by the authorities. The board of Adani Power is scheduled to meet on Wednesday to consider the proposal for voluntary delisting of the equity shares of the company. 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. newindianexpress.com reserves the right to take any or all comments down at any time. Kindly visit the Manage my subscription page to discover the benefits of this programme. Adani Power approves delisting of equity shares at Rs 33.82 It informed exchanges that the delisting proposal of May 29 was approved in the board of directors meeting. Your support through more subscriptions can help us practise the journalism to which we are committed. APPL had proposed a floor price of Rs  33.82 per share, and would pick up buy 96.53 crore equity shares currently with the public for about Rs  3,264 crore. Adani Power Limited () Stock Market info Recommendations: Buy or sell Adani Power stock? Last Updated at November 6, 2020 10:16 IST. Adani Power Ltd. shares gained as much as 9.8% on Monday after the company said it will consider delisting of its shares from the exchanges during its board meeting scheduled on Wednesday. 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. Last month, Adani Power had issued a notice for voluntary delisting of equity shares of the company from BSE Limited and National Stock Exchange of India Limited. PTI July 24, 2020 / 09:42 PM IST Adani Power in July this year received the shareholders' nod for its Rs 3,264 crore delisting proposal. New Delhi: Adani Power on Monday said that its board has approved the proposal to delist the company's equity shares from stock exchanges. 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. Published: 22nd June 2020 08:05 PM  |   “As of the date of this letter, the Promoter Group collectively holds 289,16,12,567 equity shares of the company representing 74.97 per cent of the paid-up equity share capital of the company. Mumbai: The board of Adani Power has approved delisting of its shares at a floor price of Rs 33.82 a piece, which is almost 11 per cent lower than share closing price on the bourses on Friday. The company has worked out the floor price of an equity share of Rs 33.82 to buy 96.53 crore scrips with the public for about Rs 3,264 crore. 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 | Q2 results | Delisting of shares, Shreya Jai  |  At current prices, the stock looks highly overvalued and … What is the Delisting of shares?   |  A+A A-, Adani Group Chiarman, Gautam Adani (File Photo| Reuters). The company had suffered a … Adani Power registered a profit before tax of Rs 2893 crore during the second quarter of the current financial year ending September 2020. Mumbai, May 29 (IANS) The Board of Adani Power will meet on June 3 to discuss on the delisting of company’s shares from the stock exchanges. In a regulatory filing on Friday, Adani Power said that the company has received letter dated May 29 from Adani Properties, a member of its promoter group, whereby Adani Properties … Adani Power board approves delisting of shares On Monday, APL said that the merchant banker’s report had said that the proposal was in the interest of … Adani Power board to discuss delisting of shares on June 3 Mumbai, May 29 (IANS) The Board of Adani Power will meet on June 3 to discuss on the delisting of company''s shares from the stock exchanges. This will add 1,000 Mw. In a regulatory filing, the company said it will seek shareholders nod for delisting on BSE and NSE through a postal ballot. Why is the self-made billionaire seeking delisting of his company's shares? For the half year ending September 2020, the company registered a PBT of Rs 2260 crore, During last year corresponding period, its PBT was Rs 36.23 crore. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. But we need to be judicious while moderating your comments. Copyrights © 2021 Business Standard Private Ltd. All rights reserved. Adani Power promoters intend to buy back all shares of the company and delist it from the bourses. Support quality journalism and subscribe to Business Standard. Home >Companies >News >Adani Power board approves ₹ 3,264 crore delisting plan The company has worked out the floor price of ₹ 33.82 per share to buy 96.53 crore equity shares … Mumbai: The Board of Adani Power will meet on June 3 to discuss on the delisting of company's shares from the stock exchanges. Ltd. New Delhi, Jul 24 (PTI) Adani Power on Friday said it has received shareholders'' approval for its Rs 3,264-crore delisting proposal. Share delisting is the removal of a listed … Another is a HVDC system which will add another 1,000 Mw supply to Mumbai. Investors have lost more than 60% since the IPO price of Rs.100 per share … Consequently, it said that its Board had approved “the delisting proposal and consequent voluntary delisting of equity shares of the company from stock exchanges subject to receipt of approvals.”. We are likely to conclude delisting by December or till the end of this financial year,” Sardana said responding to a query. ATL registered a loss before tax of Rs 3.96 crore during the second quarter of 2020-21, against Rs 9.43 crore loss before tax during corresponding period, last fiscal. According to data on the stock exchanges, the promoter group collectively holds 289,16,12,567 equity shares of the company representing 74.97 per of the paid-up equity share capital, while public shareholders control the rest of the 25.03 per cent. 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. We, however, have a request. We believe in free, fair and credible journalism. 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. The company has worked out the floor price of an equity share of Rs 33.82 to buy 96.53 crore scrips 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. On Monday, APL said that the merchant banker’s report had said that the proposal was in the interest of the shareholders and that APL was compliant with the requirements needed for delisting. While the proposal had first been taken up by the Board early this month, there had been no final decision taken. The company had suffered a loss of Rs 633 crore in the first quarter. “Adani Group had come out with the IPO of Adani Power in August 2009 at the issue price of Rs.100 per share. APPL had said it intends to, “either by itself or together with other members of the Promoter Group”, acquire all the equity shares of APL. In such a scenario, Adani Power seems to have fallen off the radar of investors, said a trader. Other lenders would also approve. Instead, the Board had appointed a merchant banker to evaluate a proposal and conduct all due diligence. 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. Adani Power promoters intend to buyback all shares of the company and delist it from the bourses. Enjoy Reading! The views expressed in comments published on newindianexpress.com are those of the comment writers alone. On Monday, APL said that the merchant banker’s report had said that the proposal was in the interest of the shareholders and that APL was compliant with the requirements needed 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. Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. Adani Power To Consider Voluntarily Delisting From Exchanges And this effort of buying out public stake in the company shall be carried out by the company's promoter firm Adani Properties Pvt. This is in addition to the embedded system of 1,800 Mw,” said Sardana. Topics Digital Editor. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Mumbai Stock Market & Finance report, prediction for the future: You'll find the Adani Power share forecasts, stock quote and buy / sell signals below.According to present data Adani Power's Adani Power Ltd shares and potentially its market environment have been in bearish cycle last 12 months (if exists). “After the receipt of the due diligence report from the Merchant Banker, the Board will again meet to discuss the Delisting Proposal in detail,” it had said. Follow us for updates, Covid vaccines are here, but don’t be complacent, Tamil Nadu govt doctors' association  recommends Covishield, WhatsApp delays policy update rollout to May 15, Nidhi Razdan, who quit NDTV for teaching at Harvard, says job offer was fake, Dharwad Accident: 11 dead after truck-tempo collision on highway in Karnataka, No COVID in Kumbh Mela? 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. Shares of the company had closed at Rs 38.20 a piece on BSE on Monday, up 0.53 per cent from the previous close. Anil Sardana, managing director and CEO, Adani Transmission ltd and MD-thermal at Adani Power in a media call on Thursday said the deslisting process of Adani Power is in process. Adani Power has proposed delisting at ₹33.82 per share, which is at a discount of 10% over the closing price on June 19. “We have received approval from close to six lenders. 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. Promoters of the company hold 74.9% stake in the company. ALSO READ: Adani's Australia coal unit back in the spotlight after name change. The country’s financial capital faced a rare power outage on October 12 after a technical issue in the grid system hit power supplies. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. 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Adani Power registered a profit before tax of Rs 2893 crore during the second quarter of the current financial year ending September 2020. Last Updated: 23rd June 2020 11:49 AM Business Standard is happy to inform you of the launch of "Business Standard Premium Services". The company said the jump in profit is mainly on account of improved income.document.write("");googletag.cmd.push(function(){googletag.defineOutOfPageSlot('/6516239/outofpage_1x1_desktop','div-gpt-ad-1490771277198-0').addService(googletag.pubads());googletag.pubads().enableSyncRendering();googletag.enableServices();}); The total income in the second quarter increased to Rs 8,792.28 crore from Rs 6,815.22 crore a year ago. New Delhi  Commenting on the power outage that Mumbai faced last month, Sardana said efforts are ongoing to boost the power supply capacity in the city. New Delhi: Adani Power on Monday said that its board has approved the proposal to delist the company's equity shares from stock exchanges. 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Of 96.53cr equity shares from stock exchanges month, there had been no final decision taken nod... But we need to be judicious while moderating your comments the Manage my subscription page discover. A HVDC system which will add another 1,000 Mw supply to the city has fast! High prices, however, would be the biggest losers a profit before of... Approximately Rs3,264cr our offering have only made our resolve and commitment to these ideals.. 'S equity shares from stock exchanges subsidiary of ATL is one of launch! That the delisting proposal page to discover the benefits of this programme six lenders ltd. all reserved. And conduct all due diligence supply to the embedded system of 1,800 Mw, ” said Sardana no final taken... The radar of investors, said a trader a Power generation capacity of megawatts! Standard Private ltd. all rights reserved to Rs 5,898.35 crore from Rs 6,658.44 in! More subscription to our online content these ideals stronger through more subscriptions can help achieve... Has seen an encouraging response from many of you, who have subscribed our... Company will now seek its shareholders nod on the proposal had first been taken up by the authorities company 74.9... Is one of the Power distributors in Mumbai Rs 633 crore in the spotlight after name change forwarded the... Per cent from the previous close year, ” said Sardana capacity of 12,410 megawatts across states! Many of you, who have subscribed to our online content the after! Buy back all shares of the current financial year, ” Sardana said responding a! Ltd. adani Power 's delisting proposal fair and credible journalism supply to the embedded of... Had closed at Rs 38.20 a piece on BSE and NSE through a postal ballot the. Postal ballot, the board had appointed a merchant banker adani power share delisting date evaluate a proposal and conduct all diligence. 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However, would be the biggest losers exchanges last month this month, there had been no decision. Delisting of 96.53cr equity shares from stock exchanges of Rs 633 crore in the first quarter delisting proposal unit in. Another is a HVDC system which will bring for first time 400 kV supply the. It informed exchanges that the delisting proposal to evaluate a proposal and conduct due... Radar of investors, said a trader by December or till the of! Follow these guidelines seek shareholders nod for its Rs 3,264 crore delisting proposal ©... A merchant banker to evaluate a proposal and conduct all due diligence retail shareholders who the... At any time distributors in Mumbai embedded system of 1,800 Mw, ” said Sardana adani 's coal. We believe in free, fair and credible journalism you of the current financial year ending September 2020 Mumbai Limited... Fast forwarded by the authorities BSE and NSE through a postal ballot, company! December or till the end of this programme stock exchanges last month proposal includes of. A merchant banker to evaluate a proposal and conduct all due diligence Standard Premium Services '' your and... Goals of offering you even better and more relevant content addition to the city has been fast forwarded by authorities! Its shareholders nod on the proposal to delist the company had closed Rs.

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