The … Adani Power has proposed delisting at ₹33.82 per share, which is at a discount of 10% over the closing price on June 19. 73.75 to the current level of Rs. Linkedin. 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. 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. ... That's just a floor price. In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. Oops! The company has worked out the floor price of Rs 33.82 per 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.. Or click on Free Trial to get 14 days free trial. The board of directors approved the floor price for delisting of shares at ₹33.82 per share. 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. Get diverse set of perspectives from our trusted experts on Portfolio, Banking, Economy, Environment and others. 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. Follow us on Telegram, You are now subscribed to our newsletters. Adani Power’s board of directors had approved the delisting proposal by group company Adani Properties Pvt Ltd. 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 Gas, Adani Transmission, Adani Ports and SEZ, Adani Green Energy, and Adani Enterprises are the other listed companies of the conglomerate. On BSE, Adani Power Shares value declined by 5 per cent on Monday. Slow Network, promoted by journalist-lyricist Neelesh Misra, pushes rural products and experiences, How marketers can use the traditional exchange of festive wishes meaningfully. 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. 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. 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 promoter and promoter group own 74.97 per cent of the voting rights in Adani Power. 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. 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. In the last 12 months, share prices of Adani Power fell from a high of Rs. Say cheese, says the organised dairy sector. 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. Join Mint channel in your Telegram and stay updated with the latest business news. 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. APL shares ended the trading session on Monday at ₹38.20 after the announcement. Please Subscribe to get access to one of our early bird packs. 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 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 gets shareholders' nod for delisting Earlier in May, the APPL had proposed the delisting of the company from stock exchanges. Access exclusive content of the Hindu Businessline across desktops, tablet and mobile device. Public shareholders hold 96,53,26,374 equity shares or 25.03 per cent of the paid-up equity share capital. Our Bureau Ahmedabad | Updated on December 15, 2020 Published on December 15, 2020 The company has announced delisting of shares at a floor … The company has fixed a floor price of Rs 33.82 per share. They later recovered some losses and were at. Click here to read the Mint ePaperMint is now on Telegram. In Reply to : Aaarkaay on | Adani Power … . Adani Power on Tuesday sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. You have reached your weekly free article limit. “Adani Group had come out with the IPO of Adani Power in August 2009 at the issue price of Rs.100 per share. Indian researchers are working on cells that can store more energy, last longer. 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.