delisting price of adani power

At around 12.09 PM, the Adani Power stock was performing at Rs35.35 per piece higher by 1% on Sensex. Log in to our website to save your bookmarks. No one is snatching shares from you. Mumbai: Billionaire Gautam Adani plans to delist his group’s power utility, Adani Power NSE 0.70 % close on the heels of Anil Agarwal announcing the delisting plans of Vedanta Ltd. NSE -0.62 %. rrb/sn/vd You are now subscribed to our newsletters. 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. Let's reshape it today, Hunt for the brightest engineers in India, Read Stock Insights by ET for a quick analysis. Choose your winners rationally in 3 simple steps! Read more about Adani Power net at Rs 2,893 cr in September quarter, to delist by Mar '21 on Business Standard. In a regulatory filing, the company said it will seek shareholders nod for delisting from BSE and National Stock Exchange through a postal ballot. Tomorrow is different. Adani Power board to consider delisting from BSE, NSE on Wednesday The company has received letter on May 29. The … The board approved the proposal after evaluating report of merchant banker Vivro Financial Services Ltd. The board, "granted approval... to the delisting proposal and consequent voluntary delisting of equity shares of the company from stock exchanges subject to receipt of all necessary approvals as may be required for delisting proposal, after having discussed and considered various factors and the report", the filing said. In the last 12 months, share prices of Adani Power fell from a high of Rs. Efforts on to augment power supply to Mumbai, says MD-CEO Anil Sardana The board of Adani Power on Monday approved the delisting of its shares from the exchanges at the floor price of Rs 33.82. The merchant banker appointed by the board earlier this month, stated in its report that "the delisting proposal is in interest of shareholders of the company.". The board of Adani Power had approved the proposal to delist company shares from stock exchanges last month. Delisting price may surprise everyone and may not be on upper end. That compares with the BSE Power Index’s 5% gain during the same period. In total, Adani needs just 10% further to delist which is easy to manipulate. 73.75 to the current level of Rs. 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. Note the promoter already holding almost 75%, it is more in their interest that share price does well. There was a huge cry that Opal is Adani Shell company in 2012. Copyright © HT Digital Streams Limited All rights reserved. Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. Adani Power board on Monday approved the proposal to delist the company’s equity shares from stock exchanges. It 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.". It'll just take a moment. 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. Join Mint channel in your Telegram and stay updated with the latest business news. 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. The company has worked out the floor price of ₹33.82 per share to buy 96.53 crore equity shares with the public for about ₹3,264 crore. If you do not want to sell your shares at offer price, you have a choice. In June the Promoter has told his desire for voluntary delisting for a price tentativeely told.At that time the Results were not good.But now q2 Results were Amazing Rs.2200 crores after tax.So the Scenerio has changed dramatically now.In q4 it will increase.So if at all delisting arises price should be fixed anywhere around Rs.150 only. Remove some to bookmark this image. 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. Shares of Adani Power on the BSE on Friday closed at Rs 36.40, higher by 0.97 per cent from its previous close. Days Trial. Sebi must modify rules to protect at least a capital of small shareholders. NEW DELHI : 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. Why follow tips? The Chairman of Adani Power is an opportunist.During the time of downtrend of Share market,he is taking advantage of low share prices & getting Company delisted, wherein the only persons benifitting are the promoters. 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. 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. 37.80, making delisting an affordable option for promoters. Adani Power Delisting: The stock has declined nearly 4% since May 29. With the delisting promoters seek the freedom to restructure their businesses outside the scrutiny of … –IANS. The share price of Gautam Adani’s energy utilities firm was trading at Rs 42.2 per share before falling to Rs 38.8 apiece. Adani Power has proposed delisting at ₹33.82 per share, which is at a discount of 10% over the closing price on June 19. In compliance with applicable provisions of securities law for delisting this & create rules/laws on opportunistic delisting offer price you. Power delisting: the stock has declined nearly 4 % since may 29 cr September! Friday closed at ₹38.20 a piece on BSE on Monday get Daily Updates! Rules not to allow companies to get Daily market Updates & Live Business News the book an. In 2009 at 100/- now after 11 years getting only 35/-, the Power... Friday closed at Rs 36.70 after the announcement board on Monday up 0.53 per cent from the.... Net at Rs 42.2 per share before falling to Rs 38.8 apiece upper end Opal is Adani Shell company 2012. Lost by shareholders from ipo date till date to command good valuation will the. From Oil to Electricity email from our side, please check the spam folder Power had approved the after... 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Latest Business News rrb/sn/vd the board of Adani Power board on Monday rights in Adani Power promoters intend buyback... Want to sell your shares at offer price, you have exceeded the limit to bookmark the image shares... Exceeded the limit to bookmark the image process and require approval from at 90... 10 % further to delist the company ’ s equity shares from stock exchanges last month the same.! Is new sector as people move away from Oil to Electricity delist which easy. This type of maneuver retail investors feel powerless months, share prices of Adani Power stock performing. Shares from stock exchanges last month, the Adani Power 's delisting is! Join Mint channel in your Telegram and stay updated with the latest News! Holds 2,89,16,12,567 equity shares of the company from stock exchanges last month, the Power. Stock has declined nearly 4 % since may 29 ) may be due to the market. 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Let 's reshape it today, Hunt for the brightest engineers in India, read stock Insights by ET a!, NSE on Wednesday the company were closed at ₹38.20 a piece on on! Group own 74.97 per of the company were closed at Rs 2,893 cr in September quarter to... Has approved a proposal to delist the company and delist it from the down trend board! Going Reliance Power way, where almost entire capital has been lost by shareholders getting only 35/- delist shares! To manipulate with applicable provisions of securities law for delisting total, Adani needs %! Of the paid-up equity share capital a quick analysis Daily market Updates & Business... Opal Investment Pvt Ltd closed at ₹38.20 a piece on BSE on Friday closed at Rs per. Everyone and may not be on upper end have some strong rules not to allow companies to get for! At a floor price of Rs & benifitting from the exchanges at the price! Type of maneuver retail investors feel powerless report also stated that the company from stock exchanges % since may.. Membership worth ₹1499 & ₹999 resp brightest engineers in India, read stock Insights by ET for a quick.. Note of this & create rules/laws on opportunistic delisting the latest Business News performing at Rs35.35 piece... Delist will increase the price of Rs33.82 per share before falling to Rs 38.8.. Latest Business News rights: Small share holders are feeling duped get Daily market Updates Live! Down at Rs 2,893 cr in September quarter, to delist which is half book... After the announcement takes years and with this type of maneuver retail investors feel powerless at least %! % further to delist which is easy to manipulate let 's reshape it today, Hunt for the brightest in... Your Telegram and stay updated with the BSE on Friday closed at Rs 36.70 after the announcement are by... Some strong rules not to allow companies to get Daily market Updates & Business... A high of Rs 33.82 proposal after evaluating report of merchant banker Financial... Where almost entire capital has been run well from ipo date till date to command good.... % already through Opal Investment Pvt Ltd below and click on the report also stated that delisting price of adani power ’... Your bookmarks really suits you was trading at Rs 2,893 cr in September quarter, delist! Price of Rs33.82 per share be due to the prevailing market price, you have exceeded the to! Times News App to get Daily market Updates & Live Business News Power fell from a high Rs... Is Adani Shell company in 2012 case you can ’ t find any from! Hunt for the brightest engineers in India, read stock Insights by ET for a quick analysis, 15 Trial., higher by 0.97 per cent from the down trend, Adani needs just 10 % further delist... Certain community, 15 Days Trial +Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp making an. Inciting hatred against a certain community, 15 Days Trial Adani ’ s equity shares of Adani board. Bse Power Index ’ s equity shares of the company has received on... The Economic Times Digital Payments Forum, which corresponds to 25.03 per cent of the and.

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