Adani Power sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. Retail shareholders who entered the stock at high prices, however, would be the biggest losers. UTV Software is an example of a company whose stocks got voluntarily delisted after Disney acquired the company. 37.80, making delisting an affordable option for promoters. Committed to ensure energy security for the nation . 6. Karnataka origin Dr Vivek Murthy to head Covid task force under Biden Parties on edge as many Bihar seats 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. Hence it makes sense to invest in a well-diversified portfolio of 15-18 stocks for optimum wealth creation and diversification of risk. The compensatory tariff will be calculated from 2013. 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, Adani Power sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. Unclaimed Refund Amount. 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. Sandra (E). Set price, volume and news alerts. Jun 01 2020, 9:53 AM Jun 01 2020, 10:17 AM. Also, since this is a voluntary delisting, what happens to the shareholders who don't want to sell? 4. Purchase price  Click here to get started. Shares of the company were trading at Rs 37.85 apiece on BSE in afternoon session, down … Adani Power Limited is the power business subsidiary of Indian conglomerate Adani Group with head office at Ahmedabad, Gujarat. Adani power is delisting at Rs. Loading... Unsubscribe from … Sandra Kurla Complex. Voluntary delisting of shares happens when the company decides that it would like to purchase all of its shares or merge with another company. The target company, immediately on the same day informed stock exchanges at … Hexaware quotes 37 percent below its all-time high and Ingersoll Rand – at Rs 630 – is quoting at a 40 percent discount to its record close. In case of delisting of Adani Power shares, given the low valuations due to market correction in March 2020, it can be considered as an attempt by the promoters to increase their stake at attractive prices. Voluntary Delistings occur when a company decides that it would like to purchase all of its shares or move to an OTC market while in full compliance with the exchanges. The delistings on involuntary account are mostly due to bankruptcies, failure to maintain the requirements set by the exchange, mergers, takeovers, stock performance etc. As per the guidelines prescribed by SEBI, in case of a voluntary delisting of shares, the company has to follow the below process: There are several more steps involved until the final delisting is completed. There are two types of delisting of shares. 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. Adani Power rose 1.57percent to Rs 35.55 after the company received approval from its shareholders for its delisting proposal. Type of registration: Non-Individual Address : Plot No.C4-A, 'G' Block Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra | Adani Power board on Monday approved the proposal to delist the company’s equity shares from stock exchanges. Read more about Adani Power board okays delisting from BSE, NSE; to seek shareholders' nod on Business Standard. – Research & Ranking, Which Are The Best Books to Read and Learn About Indian Stock Markets? The board of Adani Power has approved a proposal to delist company shares from stock exchanges, the Adani group firm said on Monday. Share delisting is the removal of a listed stock from a stock exchange platform, and thus it would no longer be traded on the bourse. STOCK REPORTS BY THOMSON REUTERS. Postal Ballot. Striking contrast in the speed of delisting process followed VEDANTA vis-à-vis Adani Power . Unclaimed Data 2015. 2020 National Stock Exchange of India Limited. Adani power delisting Adani power share delisting. Headquartered at Ahmedabad in Gujarat, Adani Power Limited is the power business subsidiary of Indian conglomerate Adani Group. Shares of Adani Power rose 10 per cent to Rs 40 on the BSE on Monday after the Gautam Adani- promoted electric utilities company said its board will meet to consider delisting the company from the stock exchanges. New Delhi, Jul 24 (PTI) Adani Power on Friday said it has received shareholders'' approval for its Rs 3,264-crore delisting proposal. How is this fair to the investors? It informed exchanges that the delisting proposal of May 29 was approved in the board of directors meeting. News. Our Footprints. 33.8 at around 11% discount. In this type of delisting, the investors are left with no opportunities. Obtain a prior approval of shareholders by a special resolution passed at its general meeting. *Delisting floor price is calculated by SEBI formula ( i.e. Apollo Hospital 1,947.65 129.85. june 22 (reuters) - adani power ltd ::board approves voluntary delisting.took on record floor price of 33.82 rupees/share for delisting proposal. The delisting of security can be either voluntary or involuntary. Make a public announcement through newspapers with detailed explanation and justification for the proposed delisting. 7. Adani Power share price gained more than 3 percent in the morning trade on Septemeber 1 after the Supreme Court allowed the company to recover compensatory tariff from Rajasthan discoms, CNBC-TV18 reported.. Date: June 03, 2020 National Stock Exchange of India Limited, ... adani Power (b) the Delisting Proposal is required to be approved by the Board only after obtaining a due diligence report from a merchant banker appointed by the Board in this regard. POWER YOUR TRADE. 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 Mumbai: The board of Adani Power on Monday approved the delisting of its shares from the exchanges at the floor price of Rs 33.82. 73.75 to the current level of Rs. The companies are good Adani ports and Adani Enterprises. 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. New Delhi: Adani Energy on Friday mentioned it has gained shareholders’ approval for its Rs 3,264-crore delisting proposal. Email : SirenBajao@gmail.com. : INA000003874 Shouldn't SEBI be intervening in this? Watch a complete video on our webinar on 'Investing In The Post Covid-19 World. In case of delisting of Adani Power shares, given the low valuations due to market correction in March 2020, it can be considered as an attempt by the promoters to increase their stake at attractive prices. 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. Newspaper Adv. 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. Vedanta: On 12 May 2020, the parent company of Vedanta Ltd. disclosed its intention to delist the company. Mumbai -400 051, Scrip Code: ADANIPOWER Subject: Outcome of the meeting of the Board of Directors of Adani Power Limited (the "Company") held on June 22. 73.75 to the current level of Rs. 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. SEBI Bhavan BKC “The meeting of board of directors of Adani Power to be held on Wednesday, June 03, 2020 to consider the proposal for voluntary delisting of the equity shares of the Company received from the promoter company,” Adani Power said in an exchange filing. In the last 12 months, share prices of Adani Power fell from a high of Rs. “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. NSE Gainer-Large Cap . Result of Postal Ballot – Scheme of Arrangement . Nifty 10,805.55-326.3. Tel : +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575, IRFC IPO Details, Date, Price - Research & Ranking, Millionaires, Billionaires and now Teslanaires - Research & Ranking, BSE or NSE, where should you invest in stocks in India? Benchmarks . 022 6101 3838, Email: Watch Now. In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. 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