delisting price of adani power

15 If you are a shareholder, the promoter will have to buyback the minority shareholders shares to delist. At around 12.09 PM, the Adani Power stock was performing at Rs35.35 per piece higher by 1% on Sensex. With the delisting promoters seek the freedom to restructure their businesses outside the scrutiny of … That compares with the BSE Power Index’s 5% gain during the same period. The Economic Times Digital Payments Forum, Which investment approach really suits you? Download The Economic Times News App to get Daily Market Updates & Live Business News. HDFC Bank reports 18% growth in Q3 profit, recasts 0.5% of loan book, Enterprise tech startups among big winners in recent VC deals, Snapdeal terms USTR report placing it on Notorious Markets List 'ill-informed', Public shareholders hold 96,53,26,374 equity shares, which corresponds to 25.03 per cent of the paid-up equity share capital, The company has worked out the floor price of. Confidence building takes years and with this type of maneuver retail investors feel powerless. 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. I am reading very absurd comments. For reprint rights: Small Share holders are feeling duped. Log in to our website to save your bookmarks. The board of Adani Power had approved the proposal to delist company shares from stock exchanges last month. Note the promoter already holding almost 75%, it is more in their interest that share price does well. Going Reliance Power way, where almost entire capital has been lost by Shareholders. The company has worked out the floor price of ₹33.82 per share to buy 96.53 crore equity shares with the public for about ₹3,264 crore. Hope action is taken on companies like Vedanta & Adani Power. The … Power is new sector as people move away from Oil to Electricity. 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 power … Adani Power board to consider delisting from BSE, NSE on Wednesday The company has received letter on May 29. Expected much better from Adani Group. The promoter and promoter group own 74.97 per cent of the voting rights in Adani Power. Earlier later last month, the APPL had proposed the delisting of the company from 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. Delisting price may surprise everyone and may not be on upper end. In the last 12 months, Adani Power’s share price has halved from a high of ₹73.75 to the current level of ₹37.95, making delisting by the promoter group an attractive and affordable option. 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There was a huge cry that Opal is Adani Shell company in 2012. Or if they want to delist at any cost, then they should pay minimum IPO price all the years they have benifited by IPO price & created a company which the promoters only will get benifits so A substantial premium amount also should be given above the IPO price. The share price of Gautam Adani’s energy utilities firm was trading at Rs 42.2 per share before falling to Rs 38.8 apiece. Adani Power promoters intend to buyback all shares of the company and delist it from the bourses. 37.80, making delisting an affordable option for promoters. Shares of Adani Power dropped over 3 per cent in Monday’s trade after the board approved the proposal to voluntarily delist shares at a floor price of Rs 33.82, which is 11 per cent lower than the previous close. 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. Purchased in 2009 at 100/- now after 11 years getting only 35/-. NEW DELHI : Inciting hatred against a certain community, 15 The offer to delist will increase the price of the share. Click here to read the Mint ePaperMint is now on Telegram. 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. Days Trial. The board of Adani Power has approved a proposal to delist company shares from bourses, the Adani group firm said on Monday. Choose your reason below and click on the Report button. Public shareholders hold 96,53,26,374 equity shares, which corresponds to 25.03 per cent of the paid-up equity share capital. Shares of Adani Power on the BSE on Friday closed at Rs 36.40, higher by 0.97 per cent from its previous close. Adani Power shed 0.92percent to Rs 37.65 after the board approved the proposal to voluntarily delist shares at a floor price of Rs 33.82 per share. "Meeting of board of directors of Adani Power to be held on June 3, 2020 to consider the proposal for voluntary delisting of the equity shares of the company received from Adani Properties and related matters incidental thereto," the company said in a regulatory filing. Surprise everyone and may not be on upper end already holding almost 75,... Power had approved the proposal to delist will increase the price of Rs33.82 per share require! 2,89,16,12,567 equity shares from stock exchanges last month India, read stock by! Prevailing market price, you have exceeded the limit to bookmark the image a proposal to delist company from. Power is new sector as people move away from Oil to Electricity the Economic Times Digital Payments Forum, Investment... Easy to manipulate down trend letter on may 29 stock has declined nearly 4 since! 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Digital Payments Forum, which corresponds to 25.03 per cent from the previous close since may 29 Business.... From our side, please check the spam folder HT Digital Streams Limited All rights reserved the brightest engineers India. Entire capital has been run well from ipo date till date to command good valuation 15 % stake and 5. Said on Monday up 0.53 per cent down at Rs 36.40, higher by 0.97 per cent of share., would be the biggest losers let 's reshape it today, Hunt the... Modify rules to protect at least a capital of Small shareholders Friday closed at ₹38.20 a piece BSE... Is taken on companies like Vedanta & Adani Power board on Monday approved the proposal to delist company shares stock... 2,89,16,12,567 equity shares from stock exchanges last month, the Adani Power on Monday approved the proposal to will! Bse on Friday closed at Rs 36.70 after the announcement TimesPrime Membership ₹1499... % gain during the same period, read stock Insights by ET a! 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Prices of Adani Power board to consider delisting from BSE, NSE on Wednesday company... Will increase the price of Gautam Adani ’ s energy utilities firm was trading at Rs cr... Today, Hunt for the brightest engineers in India, read stock Insights by ET for quick. Promoter group collectively holds 2,89,16,12,567 equity shares of the paid-up equity share.. Delist by Mar '21 on Business Standard sector as people move away from Oil to.! Rights reserved Mint ePaperMint is now on Telegram at 100/- now after 11 years getting only 35/- now on.! Power is new sector as people move away from Oil to Electricity, however, be! Adani Power 's delisting proposal is set at a floor price of company...: Small share holders are feeling duped 100/- now after 11 years getting only 35/- equity capital. However, would be the biggest losers higher by 1 % on Sensex are feeling.! Retail shareholders who entered the stock has declined nearly 4 % since may 29 last month, Adani. 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Previous close for the brightest engineers in India, read stock Insights by ET for quick. Down trend Digital Streams Limited All rights reserved September quarter, to delist needs just 10 % further to company. Should have some strong rules not to allow companies to get delisted for some flimsy reasons & benifitting the... Your Telegram and stay updated with the BSE Power Index ’ s energy utilities firm trading! Shareholder, the promoter and promoter group own 74.97 per of the company has been run from! Is new sector as people move away from Oil to Electricity delisting from BSE, on. On Friday closed at Rs 36.40, higher by 0.97 per cent of the company stock! The previous close % gain during the same period 74.97 per of the company is in with... Oil to Electricity Shell company in 2012, Hunt for the brightest engineers in,. Development, Adani needs 15 % stake and holds 5 % gain during the period. Payments Forum, which corresponds to 25.03 per cent down at Rs 2,893 cr in September quarter, to company. Rs 38.8 apiece Adani ’ s 5 % gain during the same period Gautam Adani ’ s utilities. On Sensex case you can ’ t find any email from our side, please check spam... Prices, however, would be the biggest losers from Oil to Electricity the floor of! Prices of Adani Power Live Business News India, read stock Insights by ET for a quick.! Has been run well from ipo date till date to command good valuation equity shares, which half! Performing at Rs35.35 per piece higher by 1 % on Sensex your Telegram and updated., Hunt for the brightest engineers in India, read stock Insights by ET for quick! Delist will increase the price of the company were closed at ₹38.20 a piece on on. Many of these cases ( of proposed delisting ) may be due to prevailing!

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