022 6101 3838, Email: Address : Plot No.C4-A, 'G' Block Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra | “Khargar-Vikhroli system which will bring for first time 400 kV supply to the city has been fast forwarded by the authorities. In this scenario, investors don’t have any other option. In the case of Vedanta and Adani Power, the last reason mentioned is a major reason. 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 Company has informed that after the receipt of the due diligence report from the merchant banker, the board will again meet to […] 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. Adani Power promoters intend to buyback all shares of the company and delist it from the bourses. Exit opportunity to shareholders of the region Filing of forms with Registrar of companies Promoter hold 75% shares in adani power. 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 … -Research & Ranking, Which Is The Best Stock Advisory Company In India?-Research & Ranking. 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. What this means. It is the permanent removal of stock from the stock exchange. Submit an application to the relevant exchange in the form specified by the exchange, along with a copy of the special resolution for delisting of shares. Share delisting is basically permanent removal of shares from trading bourses. The delistings on involuntary account are mostly due to bankruptcies, failure to maintain the requirements set by the exchange, mergers, takeovers, stock performance etc. This price is currently at a discount to the current market price of INR 35. even without delisting this company is not worth investing..this is a thermal power company with no growth since renewables is the future and Adani has seperate company for that...the debt Is way too High..only last quarter was profitable and that was to pending compensation from government..see its debt to equity ratio . Adani Power's share price has halved in the last twelve months from a high of Rs 73.75 to the current level of Rs 37.95. Adani Power board approves delisting of shares On Monday, APL said that the merchant banker’s report had said that the proposal was in the interest of … Post. Adani Power board has appointed a merchant banker to finalise its delisting plan, the company informed the bourses on Wednesday. In the case of involuntary delisting of shares, the delisted company, its full-time directors, promoters and group firms are barred from accessing the securities market for ten years from the date of compulsory delisting. INDIAN billionaire Gautam Adani-owned Adani Power has appointed merchant banker for due diligence on delisting plan of the company. 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. Delisting is the removal of a listed security from a stock exchange. 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, Is Serum Institute Listed on Stock Exchange? Adani Power's delisting proposal is set at a floor price of Rs33.82 per share. 12.43 % Invest Now. 2. 12.20 AM Dec 16th. The price at which the shares are to be bought shall not be less than the weighted average of the traded price of the security in the preceding six months at any of the Stock Exchanges. The Adani Power board on June 3 will also discuss the appointment of a merchant banker registered with SEBI for carrying out due diligence as required in terms of Regulation 8(1A)(ii) of the SEBI Delisting Regulations. In May, the Gautam Adani-led group had announced its intention to delist its power utility, soon after industrialist Anil Agarwal announced the delisting plans of Vedanta. Call Us: With the delisting promoters seek the freedom to restructure their businesses outside the scrutiny of public shareholders and regulators. Telephone: +91 22 61013800/18 | Email: support@researchandranking.com | © Copyright 2021 Equentis Wealth Advisory Services Pvt. From a shareholder’s perspective, a company which is delisting its shares voluntarily will keep its shareholders informed at different stages. The buzz is quite strong and according What is the voluntary delisting of shares? A notice in writing given to all directors of the company and a meeting is convened. A few days back Billionaire Gautam Adani led Adani Power announced its intention to delist the company’s shares from Indian stock exchanges with its promoter firm Adani Properties, proposing to buy out the company’s publicly listed shares. These mutual funds have our hard earned money and they will sell the stock at loss for their vested interest and that will affect our mutual funds nav, which we have in these fund houses. Overall, the proposal includes delisting of 96.53cr equity shares with the public for approximately Rs3,264cr. 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. 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