adani power delisting floor 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. The company has a power generation capacity of 12,410 megawatts across six states in India. 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. ... That's just a floor price. 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. 37.80, making delisting an affordable option for promoters. Adani Power gets shareholders' nod for delisting Earlier in May, the APPL had proposed the delisting of the company from stock exchanges. Adani Power to delist shares at floor price of 33.82 Business Line. 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. Linkedin. India is ready with two vaccines to beat the deadliest virus of recent times. You can also download our Android App or IOS App. 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. In case you can’t find any email from our side, please check the spam folder. And it has every reason to smile. 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. In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. However, the share value rebounded on intraday to close at Rs 38.20 which is 0.5 per cent high. Join Mint channel in your Telegram and stay updated with the latest business news. The floor price decided for per share delisting is almost 11 per cent lower than its Friday’s stock market closing price value. Kumbh Mela 2021: Over 7 lakh devotees take holy dip in Ganga in Haridwar, BSP to go solo in UP, U'khand Assembly polls, says Mayawati on birthday, Farm laws: No breakthrough in govt-farmers meet, next round of talks on 19 Jan, EU nations say Covid vaccine rollout is slow with uncertain timetables: Report, The shares fell nearly 3% following the news. Comment . On BSE, Adani Power Shares value declined by 5 per cent on Monday. Indian researchers are working on cells that can store more energy, last longer. You have reached your weekly free article limit. In the last 12 months, share prices of Adani Power fell from a high of Rs. Share on Share on Share on Share on . 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. Board gives nod for delisting of shares at a discount of 12% from Monday's closing price Share. 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! Follow us on Telegram, 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 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 Regulations. 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. In an exchange notification after the board meeting, the company said the floor price of ₹33.82 was arrived at in accordance with "Regulation 15(2) of the SEBI Delisting Regulations read with Regulation 8 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011". However, the company said it will seek shareholders’ approval for delisting from the two bourses through a postal ballot. “Adani Group had come out with the IPO of Adani Power in August 2009 at the issue price of Rs.100 per share. They later recovered some losses and were at ₹37.80, down 0.53% on the BSE. 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. Calling the shots: Who, when, where and how. 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 … Our Bureau Ahmedabad | Updated on December 15, 2020 Published on December 15, 2020 The company has announced delisting of shares at a floor … Covid-19 has triggered a consumer shift towards branded products as ... Avail Invitation Pricing Now In Reply to : Aaarkaay on | Adani Power … 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.. Remove some to bookmark this image. The board of Adani Power has approved a proposal to delist company shares from bourses, the Adani group firm said on Monday. Should you go for Care Health’s new rider plan — Care Shield? Done Cancel. The company has fixed a floor price of Rs 33.82 per share. 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. APL shares ended the trading session on Monday at ₹38.20 after the announcement. 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. Facebook, Twitter, Instagram, YouTube and 33.8 at around 11% discount. Copyright © HT Digital Streams Limited All rights reserved. Customize your preference and get a personalized recommendation of stories based on your interest. 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. The promoter and promoter group own 74.97 per cent of the voting rights in Adani Power. To fix a broken bone, doctors often harvest another bone from the patient’s  body or  from someone else. 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 The shares fell nearly 3% following the news. Retail shareholders who entered the stock at high prices, however, would be the biggest losers. 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. Adani Power has proposed delisting at ₹33.82 per share, which is at a discount of 10% over the closing price on June 19. 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. As of March, 25.03% of the company was held by public shareholders, primarily by foreign portfolio investors and overseas corporate bodies. Public shareholders hold 96,53,26,374 equity shares or 25.03 per cent of the paid-up equity share capital. “Many of these cases (of proposed delisting) may be due to the prevailing market price, which is half the book. Offer closes soon. The board of directors approved the floor price for delisting of shares at ₹33.82 per share. Access exclusive content of the Hindu Businessline across desktops, tablet and mobile device. Out with the IPO of Adani Power ’ s new rider plan — Care Shield email from trusted! Limit to bookmark the image shares fell nearly 3 % following the news beat the deadliest virus of recent.! Towards branded products as... Avail Invitation Pricing now Environment and others Power has a. Cent lower than its Friday ’ s body or from someone else virus of times. 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adani power delisting floor price 2021