Calling the shots: Who, when, where and how. Covid-19 has triggered a consumer shift towards branded products as ... Avail Invitation Pricing Now Price when posted : NSE: Rs. Investors baffled at swings in Adani Power thehindubusinessline.com - Our Bureau. 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. The company has worked out the floor price of Rs 33.82 per 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. 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. 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 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 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’s board of directors had approved the delisting proposal by group company Adani Properties Pvt Ltd. Like. The board of directors approved the floor price for delisting of shares at ₹33.82 per share. 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. While good writing wars against the cliché, television gives it a natural home. In case you can’t find any email from our side, please check the spam folder. 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. The … Public shareholders hold 96,53,26,374 equity shares or 25.03 per cent of the paid-up equity share capital. In Reply to : Aaarkaay on | Adani Power … Adani Power has proposed delisting at ₹33.82 per share, which is at a discount of 10% over the closing price on June 19. Please Subscribe to get access to one of our early bird packs. Follow us on Telegram, 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. Share on Share on Share on Share on . The floor price is the base price at which promoters intend to purchase … 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. It ... Superconductors from IIScScientists at IISc Bangalore have invented a device with a nanocrystal structure ... Engineering and construction giant L&T has won a licence from the Council of Scientific & Industrial ... Option price falls more than it rises for the same change in underlying, A long-term vacation here is worth a check-in, The fund delivered a return of 31.5% in 2020 compared with the category’s 15.5%, Care Health Insurance’s new rider offers no great benefit. Click here to read the Mint ePaperMint is now on Telegram. 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. 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. The board of directors approved the floor price for delisting of shares at ₹33.82 per share. Adani Power to delist shares at floor price of 33.82 Business Line. The floor price decided for per share delisting is almost 11 per cent lower than its Friday’s stock market closing price value. Oops! The board of Adani Power had approved the proposal to delist company shares from stock exchanges last month. It'll just take a moment. The company has worked out the floor price of Rs 33.82 per equity share to buy 96.53 crore shares from the public for about Rs 3,264 crore. 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. 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. 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. 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. Remove some to bookmark this image. Ad spends migrate online, but are brands digital-ready? 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. Facebook, Twitter, Instagram, YouTube and In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. Or click on Free Trial to get 14 days free trial. 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. The board of Adani Power on Monday approved the delisting of its shares from the exchanges at the floor price of Rs 33.82. Retail shareholders who entered the stock at high prices, however, would be the biggest losers. Experience cleaner site with zero ads and faster load times. We review its pros and cons. Copyright © HT Digital Streams Limited All rights reserved. Your session has expired, please login again. You can also download our Android App or IOS App. Slow Network, promoted by journalist-lyricist Neelesh Misra, pushes rural products and experiences, How marketers can use the traditional exchange of festive wishes meaningfully. Looks like you have exceeded the limit to bookmark the image. Adani Gas, Adani Transmission, Adani Ports and SEZ, Adani Green Energy, and Adani Enterprises are the other listed companies of the conglomerate. The promoter and promoter group own 74.97 per cent of the voting rights in Adani Power. They later recovered some losses and were at ₹37.80, down 0.53% on the BSE. “Many of these cases (of proposed delisting) may be due to the prevailing market price, which is half the book. Adani Power on Tuesday sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. As of March, 25.03% of the company was held by public shareholders, primarily by foreign portfolio investors and overseas corporate bodies. 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.. Not the final price company will pay, ... Price is below 110 (Strike price) so we keep the rent and the price is above our insurance point so Insurance company keeps the premium. However, the share value rebounded on intraday to close at Rs 38.20 which is 0.5 per cent high. Access exclusive content of the Hindu Businessline across desktops, tablet and mobile device. The company has a power generation capacity of 12,410 megawatts across six states in India. “The delisting proposal is in the interest of the … 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 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 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. APL shares ended the trading session on Monday at ₹38.20 after the announcement. 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". You are now subscribed to our newsletters. Linkedin. Offer closes soon. 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. To fix a broken bone, doctors often harvest another bone from the patient’s  body or  from someone else. 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. Adani power is delisting at Rs. Get diverse set of perspectives from our trusted experts on Portfolio, Banking, Economy, Environment and others. You have reached your weekly free article limit. 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. On BSE, Adani Power Shares value declined by 5 per cent on Monday. . Earlier, promoters of Adani Power intend to buyback all shares of the company and delist it from the bourses. 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. And it has every reason to smile. 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. 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! They later recovered some losses and were at. ... That's just a floor price. New Delhi, Jul 24 (PTI) Adani Power on Friday said it has received shareholders'' approval for its Rs 3,264-crore delisting proposal. 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. On Monday, its shares on the BSE closed at Rs 38.20, higher by 0.53 per cent from its previous close. 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. Should you go for Care Health’s new rider plan — Care Shield? Comment . Our Bureau Ahmedabad | Updated on December 15, 2020 Published on December 15, 2020 The company has announced delisting of shares at a floor … 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 shares fell nearly 3% following the news. Say cheese, says the organised dairy sector. Done Cancel. 73.75 to the current level of Rs. Log in to our website to save your bookmarks. 37.80, making delisting an affordable option for promoters. Indian researchers are working on cells that can store more energy, last longer. 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 gets shareholders' nod for delisting Earlier in May, the APPL had proposed the delisting of the company from stock exchanges. 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. The company has fixed a floor price of Rs 33.82 per share. Customize your preference and get a personalized recommendation of stories based on your interest. India is ready with two vaccines to beat the deadliest virus of recent times. APL shares ended the trading session on Monday at ₹38.20 after the announcement. 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 … Board gives nod for delisting of shares at a discount of 12% from Monday's closing price Share. Join Mint channel in your Telegram and stay updated with the latest business news. 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 board of Adani Power has approved a proposal to delist company shares from bourses, the Adani group firm said on Monday. 33.8 at around 11% discount. In the last 12 months, share prices of Adani Power fell from a high of Rs. 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.