Join Mint channel in your Telegram and stay updated with the latest business news. In the last 12 months, Adani Power’s share price has halved from a high of ₹73.75, making delisting by the promoter group an attractive and affordable option. While good writing wars against the cliché, television gives it a natural home. The company had, on Saturday, announced that its promoters had set the floor price for delisting at Rs 92.58 — 19 per cent lower than Allcargo’s last closing of Rs 114.5 on Monday. Comment . Please Subscribe to get access to one of our early bird packs. 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 Gas, Adani Transmission, Adani Ports and SEZ, Adani Green Energy, and Adani Enterprises are the other listed companies of the conglomerate. The company has a power generation capacity of 12,410 megawatts across six states in India. . Adani Power to delist shares at floor price of 33.82 Business Line Board gives nod for delisting of shares at a discount of 12% from Monday's closing price 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. 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. The board of Adani Power had approved the proposal to delist company shares from stock exchanges last month. On BSE, Adani Power Shares value declined by 5 per cent on Monday. Mumbai, Jun 22 (IANS): The board of Adani Power on Monday approved the delisting of its shares from the exchanges at the floor price of Rs 33.82. 37.80, making delisting an affordable option for promoters. The company has announced delisting of shares at a floor price of ₹33.82 Major price swings over the past two months in the stock of Adani Group's … They later recovered some losses and were at. Copyright © HT Digital Streams Limited All rights reserved. Your session has expired, please login again. New Delhi, June 22 The Board of Adani Power has approved a proposal to delist company shares from stock exchanges, the firm said on Monday. Experience cleaner site with zero ads and faster load times. Covid-19 has triggered a consumer shift towards branded products as ... Avail Invitation Pricing Now 73.75 to the current level of Rs. 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Adani Power to delist shares at floor price of 33.82 Business Line. 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 power is delisting at Rs. 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. They later recovered some losses and were at ₹37.80, down 0.53% on the BSE. Copyright © 2021, THG PUBLISHING PVT LTD. Manoj Badale’s EMIPL becomes majority owner of Rajasthan Royals, Medium acquires social digital book platform Glose, Tea board issues show cause notice to 30 factories, Covid-dented Kerala Budget projects ₹ 1,307-cr deficit for 2021-22, Why option price falls more than it rises for the same change in underlying, Why the stock of Trivago offers value in euphoric market, UTI Equity Fund: Diversify your core equity portfolio. The shares fell nearly 3% following the news. Or click on Free Trial to get 14 days free trial. Log in to our website to save your bookmarks. Adani Power on Tuesday sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. 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. Share on Share on Share on Share on . ... That's just a floor price. We review its pros and cons. In the last 12 months, share prices of Adani Power fell from a high of Rs. The company has worked out the floor price of Rs 33.82 per 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. India is ready with two vaccines to beat the deadliest virus of recent times. It ... 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It stated that Adani Properties Private Limited (APPL), a member of the promoter and promoter group of the Company, has informed that “as per the certificate dated June 22, 2020 issued by M/s Dharmesh Parikh & Co, Chartered Accountants, ₹33.82 is the floor price per equity share, which is arrived at in accordance with the SEBI Delisting Regulations. To fix a broken bone, doctors often harvest another bone from the patient’s  body or  from someone else. In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. 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. Public shareholders hold 96,53,26,374 equity shares or 25.03 per cent of the paid-up equity share capital. The floor price decided for per share delisting is almost 11 per cent lower than its Friday’s stock market closing price value. Earlier, promoters of Adani Power intend to buyback all shares of the company and delist it from the bourses. Ad spends migrate online, but are brands digital-ready? Access exclusive content of the Hindu Businessline across desktops, tablet and mobile device. APL shares ended the trading session on Monday at ₹38.20 after the announcement. And it has every reason to smile. “Many of these cases (of proposed delisting) may be due to the prevailing market price, which is half the book. Price when posted : NSE: Rs. Say cheese, says the organised dairy sector. 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. NEW DELHI : The board of Adani Power has approved a proposal to delist company shares from stock exchanges, the Adani group firm said on Monday. 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. As of March, 25.03% of the company was held by public shareholders, primarily by foreign portfolio investors and overseas corporate bodies. Board gives nod for delisting of shares at a discount of 12% from Monday's closing price Share. 33.8 at around 11% discount. Mumbai, June 22 The board of Adani Power on Monday approved the delisting of its shares from the exchanges at the floor price of Rs 33.82.. On Monday, its shares on the BSE closed at Rs 38.20, higher by 0.53 per cent from its previous close. You can also download our Android App or IOS App. 47.00 Delisting floor price is 33.82 so operators are bringing the stock price down ..Well we can see whether it will hit 90 or not.. 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. As per the company’s disclosure on shareholding, the promoter group collectively holds 2,89,16,12,567 equity shares of APL, which is 74.97 per of the total paid-up equity share capital. The floor price is the base price at which promoters intend to purchase … Our Bureau Ahmedabad | Updated on December 15, 2020 Published on December 15, 2020 The company has announced delisting of shares at a floor … Investors baffled at swings in Adani Power thehindubusinessline.com - Our Bureau. The board of directors approved the floor price for delisting of shares at ₹33.82 per share. For Fortune, a brand celebrating its 20th anniversary, it was a rude shock to become the butt of social media ... Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ... Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ... Aequs Aerospace to create space for large-scale manufacture of toys at Koppal. Indian researchers are working on cells that can store more energy, last longer. In Reply to : Aaarkaay on | Adani Power … 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 board of directors had approved the delisting proposal by group company Adani Properties Pvt Ltd. Offer closes soon. Linkedin. Earlier, on June 3, the board of directors of Adani APL considered the proposal for delisting of APL shares from stock exchanges and approved the appointment of Vivro Financial Services, a Category-I merchant banker registered with the Securities and Exchange Board of India (SEBI) to carry out the due diligence process. Looks like you have exceeded the limit to bookmark the image. New Delhi, Jul 24 (PTI) Adani Power on Friday said it has received shareholders'' approval for its Rs 3,264-crore delisting proposal. Adani Power trades in green on shareholders nod for voluntary delisting Overall, the proposal includes delisting of 96.53cr equity shares with the public for approximately Rs3,264cr. Calling the shots: Who, when, where and how. Last month, Adani Power, a private-sector power generation and distribution company, informed stock exchanges that its board of directors would consider a proposal at its next meeting to voluntarily delist its shares. You are now subscribed to our newsletters. “Adani Group had come out with the IPO of Adani Power in August 2009 at the issue price of Rs.100 per share. 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 APL board had met on Monday to review and take on record the due-diligence report by Vivro Financial Services Pvt Ltd — merchant banker for the company’s delisting process. Get Full Digital Access To The Hindu BusinessLine, The Hindu, Frontline, Sportstar, Crossword+, Epaper replica of The Hindu and The Hindu BusinessLine in ONE SINGLE DISCOUNTED PRICE! In a regulatory filing, billionaire Gautam Adani-led firm said that the board approved the proposed delisting of the firm based on the recommendations from the merchant banker. However, the share value rebounded on intraday to close at Rs 38.20 which is 0.5 per cent high. The company has said delisting will enhance the company's operational, financial and strategic flexibility including its ability to undertake corporate restructurings, acquisitions, exploring new financing structures. In case you can’t find any email from our side, please check the spam folder. Customize your preference and get a personalized recommendation of stories based on your interest. Like. Follow us on Telegram, Adani Power has proposed delisting at ₹33.82 per share, which is at a discount of 10% over the closing price on June 19. On Monday, its shares on the BSE closed at Rs 38.20, higher by 0.53 per cent from its previous close. Done Cancel. The … Oops! “The delisting proposal is in the interest of the … The promoter and promoter group own 74.97 per cent of the voting rights in Adani Power. In August 2009 at the issue price of 33.82 Business Line 's closing price share an option! Website to save your bookmarks bird packs join Mint channel in your Telegram stay! 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