Adani Power board approves delisting from BSE, NSE In a regulatory filing, the company said it will seek shareholders nod for delisting on BSE and NSE through a postal ballot. : INA000003874 In a regulatory filing on Friday, Adani Power said that the company has received letter dated May 29 from Adani Properties, a member of its promoter group, whereby Adani Properties has expressed its intention, to acquire all equity shares of the Adani Power held by its public shareholders, either by itself or together with other members of the Promoter Group. Adani Power trades 74 percent below its record high of approx Rs 141. Certified copy of Board's Resolution proposing delisting is submitted to the Stock exchange. Loading... Unsubscribe from Where to … A person who is not a member of the Company as on the cut-off date should treat the Notice for information purposes only. Operational Power Plant. There are several more niche and complex steps till finally delisting is achieved. Also, since this is a voluntary delisting, what happens to the shareholders who don't want to sell? Exit opportunity to shareholders of the region Adani Power surged 7.69percent to Rs 39.20 after the company said its board will meet on 3 June 2020 to consider a proposal to delist equity shares from the domestic stock exchanges. Adani Power: Shareholders approve proposal to delist the company from the exchanges. Adani Power Delisting, Adani Green, Adani Power Share News, Adani Power Share Delisting Where to Invest in Stock Market. Exchange Plaza. support@researchandranking.com, SEBI Registered Investment Adviser Details: The company has worked out the floor price of an equity share of Rs 33.82 to buy 96.53 crore scrips with the public for about Rs 3,264 crore Adani Power board has appointed a merchant banker to finalise its delisting plan, the company informed the bourses on Wednesday. Within 30 days of Resolution, Form No. Payment of listing fees to the stock exchanges today is considered by some Companies as a burden because the companies feel that neither the shares are traded on the stock exchanges nor the exchanges provide any value added service to the companies. In this scenario, investors don’t have any other option. The board of Adani Power is scheduled to meet on Wednesday to consider the proposal for voluntary delisting of the equity shares of the company. Why is the self-made billionaire seeking delisting of his company's shares? The company has appointed a merchant banker named Vivro Financial Services Pvt Ltd to assess the proposal to delist its equity shares from NSE and BSE. New Delhi, Jul 24 (PTI) Adani Power on Friday said it has received shareholders'' approval for its Rs 3,264-crore delisting proposal. Proposal for delisting shares is floated and a resolution to the effect is passed. Subscribe It is a private thermal power producer, with capacity of 12,450 MW. As per an official statement issued by Adani Power, the proposed delisting of Adani Power shares is expected to enhance the company's operational, financial and strategic flexibility. Involuntary delisting of shares can happen due to several reasons, such as if the company becomes bankrupt or fails to meet the compliance standards set by the exchange. Technical and Commodity Calls. Get latest articles and stories on Latest News at LatestLY. Key Developments. Delisting of shares can be of two types i.e. “Delisting will be a positive development, but the proposed delisting price is not up to expectations of public shareholders,” said Yash Gupta, equity research associate, Angel Broking. The power generation firm’s board is set to meet on 3 June to consider the delisting proposal.Adani Power’s share price has halved from a high of ₹73.75 to the current level of ₹36.40 Adani Enterprises has fixed June 4 as record date to identify eligible shareholders for the scheme of arrangement and demerger among the companies, Adani Ports and Special Economic Zone, Adani Power, Loading... Unsubscribe from … members who have not registered their email address and as a consequence may not receive the Notice. Result of Postal Ballot – Scheme of Arrangement . Principal Officer: Manish Goel, Email: manish@equentis.com, +91 22 61013800 Member's Approval Rahul Gandhi targets PM Modi; Will there be a counter-response? Company will call for a board meeting after giving written notice to all board members. 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