Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. This is in addition to the embedded system of 1,800 Mw,” said Sardana. Adani Power promoters intend to buy back all shares of the company and delist it from the bourses. PTI July 24, 2020 / 09:42 PM IST Overall, the proposal includes delisting of 96.53cr equity shares with the public for approximately Rs3,264cr. 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 … IndiGo to launch flight services between Delhi, Leh on February 22, MP vaccine drive: My turn will come in third phase, says Chief Minister Shivraj Singh Chouhan, 100 sovereigns burgled from businessman's house in Tamil Nadu, PMLA: Bail of Shiv Sena MLA Pratap Sarnaik's 'associate' Amit Chandole rejected, 100 former civil servants raise questions over transparency in PM-CARES Fund, Traders' body CAIT moves SC seeking WhatsApp to call off new privacy policy, The Morning Standard | Dinamani | Kannada Prabha | Samakalika Malayalam | Indulgexpress | Edex Live | Cinema Express | Event Xpress, Contact Us | About Us | Careers | Privacy Policy | Search | Terms of Use | Advertise With Us, Home | Nation | World | Cities | Business | Columns | Entertainment | Sport | Magazine | The Sunday Standard, Now we are on Telegram too. newindianexpress.com reserves the right to take any or all comments down at any time. Adani Power To Consider Voluntarily Delisting From Exchanges And this effort of buying out public stake in the company shall be carried out by the company's promoter firm Adani Properties Pvt. “Khargar-Vikhroli system which will bring for first time 400 kV supply to the city has been fast forwarded by the authorities. Promoters of the company hold 74.9% stake in the company. The company had suffered a … The company will now seek its shareholders nod on the proposal through a postal ballot, the company said in an exchange filing. “We have received approval from close to six lenders. For the half year ending September 2020, the company registered a PBT of Rs 2260 crore, During last year corresponding period, its PBT was Rs 36.23 crore. Retail shareholders who entered the stock at high prices, however, would be the biggest losers. We, however, have a request. "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 … The company said the jump in profit is mainly on account of improved income.document.write("");googletag.cmd.push(function(){googletag.defineOutOfPageSlot('/6516239/outofpage_1x1_desktop','div-gpt-ad-1490771277198-0').addService(googletag.pubads());googletag.pubads().enableSyncRendering();googletag.enableServices();}); The total income in the second quarter increased to Rs 8,792.28 crore from Rs 6,815.22 crore a year ago. Adani Power's delisting proposal is set at a floor price of Rs33.82 per share. Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. The total expenses reduced to Rs 5,898.35 crore from Rs 6,658.44 crore in the year-ago period. Mumbai, May 29 (IANS) The Board of Adani Power will meet on June 3 to discuss on the delisting of company’s shares from the stock exchanges. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Mumbai: Billionaire Gautam Adani 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 buyback all shares of the company and delist it from the bourses. On Monday, APL said that the merchant banker’s report had said that the proposal was in the interest of the shareholders and that APL was compliant with the requirements needed for delisting. Adani Mumbai Electricity Limited, which is a wholly owned subsidiary of ATL is one of the power distributors in Mumbai. The country’s financial capital faced a rare power outage on October 12 after a technical issue in the grid system hit power supplies. Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. All the comments will be moderated by the newindianexpress.com editorial. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. Why is the self-made billionaire seeking delisting of his company's shares? Support quality journalism and subscribe to Business Standard. The views expressed in comments published on newindianexpress.com are those of the comment writers alone. Addressing the media after results, Sardana said the company is looking forward to the power transmission projects which the central government will offer under tariff based competitive bidding. Shares of the company had closed at Rs 38.20 a piece on BSE on Monday, up 0.53 per cent from the previous close. Topics According to data on the stock exchanges, the promoter group collectively holds 289,16,12,567 equity shares of the company representing 74.97 per of the paid-up equity share capital, while public shareholders control the rest of the 25.03 per cent. Help us delete comments that do not follow these guidelines. Adani Power in July this year received the shareholders' nod for its Rs 3,264 crore delisting proposal. 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. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. In a regulatory filing, the company said it will seek shareholders nod for delisting on BSE and NSE through a postal ballot. 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. New Delhi, Jul 24 (PTI) Adani Power on Friday said it has received shareholders'' approval for its Rs 3,264-crore delisting proposal. APPL had said it intends to, “either by itself or together with other members of the Promoter Group”, acquire all the equity shares of APL. Shares of the company closed at Rs 37.70 on the Bombay Stock Exchange on Wednesday, having almost declined to its year’s high of Rs 73.75 that was touched in November last year. New Delhi  The decision on this will be taken in the next board meeting of the company. Kindly visit the Manage my subscription page to discover the benefits of this programme. Adani Transmission Ltd (ATL), which is the transmission and distribution arm of the Adani Group also declared its Q2 results on Thursday. The company had suffered a loss of Rs 633 crore in the first quarter. Adani Power Limited () Stock Market info Recommendations: Buy or sell Adani Power stock? 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 to discuss delisting of shares on June 3 Mumbai, May 29 (IANS) The Board of Adani Power will meet on June 3 to discuss on the delisting of company''s shares from the stock exchanges. The spotlight after name change in Mumbai offering you even better and more relevant content of `` Business Standard Services. Power had approved the proposal through a postal ballot, the board had appointed merchant... Nod on the proposal to delist the company had closed at Rs 38.20 a piece on BSE on approved. 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