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. Benchmarks . Watch Queue Queue. Publication of the notice in newspapers Adani Power board has appointed a merchant banker to finalise its delisting plan, the company informed the bourses on Wednesday. The board of Adani Power has approved a proposal to delist company shares from stock exchanges, the Adani group firm said on Monday. 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? 4. 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. Ltd. All Rights Reserved. The delisting of security can be either voluntary or involuntary. It also operates a mega solar plant of 40 MW at Naliya, Bitta, Kutch, Gujarat. 73.75 to the current level of Rs. 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. members who have not registered their email address and as a consequence may not receive the Notice. 022 6101 3838, Email: India Matters. 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. Over the past three weeks, shares had rallied close to 30 per cent on the back of the delisting announcement. Adani Power sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. adani Power 2020. being the cut-off date. 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, The compensatory tariff will be calculated from 2013. Upcoming Power Plant. Businesses. “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. | India Upfront, CES 2021 goes Virtual; The Best Of Consumer Technology Show, Is Rahul Gandhi continuing with his attacks on the judiciary? A person who is not a member of the Company as on the cut-off date should treat the Notice for information purposes only. vol weighted average price 60 days prior to the date of intimation) Tags delisting Vedanta Subscribe to Moneycontrol Pro at ₹499 for the first year and get access to exclusive offers. 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 Last month, Adani Power had issued a notice for voluntary delisting of equity shares of the company from BSE Limited and National Stock Exchange of India Limited. 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, | Nation Wants To Know, TMC MP Satabdi Roy quells rumours of joining BJP, Trade, human rights and the future of India-UK ties, TRP case: Prashant Bhushan shares WhatsApp chat screenshots, Middle class to gain from tax deductions likely in Budget, Amazon enters India's $180-bn edtech sector, Raghuram Rajan is not impressed with Bitcoin or Tesla, IndiGo offers flight tickets from Rs 877 in ‘Big Fat Sale’, Markets soaring, sell stake in PSUs now: Rajan to govt, Gautam Adani plans to delist Adani Power - What does delisting a company mean and how can it be done, Gautam Adani has said the company Adani Power will go in for delisting from the stock exchange, The delisting process involves a number of steps, Here's taking a look at what delisting means and how a company follows a procedure to achieve the same. Exit opportunity to shareholders of the region 3. 5. In this type of delisting, the investors are left with no opportunities. Board Approval There are several more niche and complex steps till finally delisting is achieved. Events like voluntary delisting may be beyond the control of shareholders even if some shareholders of the company may not be in favour of it. 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. UTV Software is an example of a company whose stocks got voluntarily delisted after Disney acquired the company. POWER YOUR TRADE. Technical and Commodity Calls. Member's Approval SEBI Bhavan BKC Set price, volume and news alerts. *Delisting floor price is calculated by SEBI formula ( i.e. Read more about Adani Power board okays delisting from BSE, NSE; to seek shareholders' nod on Business Standard. 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 The decision on this will be taken in the next board meeting of the company. 12,450 MW . 6. save hide report. STOCK REPORTS BY THOMSON REUTERS. Subscribe. of Postal Ballot for Delisting_24.06.2020. Eastern Power Distribution Company Limited (EPDCL), Central Power Distribution Company Limited (CPDCL) and Southern Power Distribution Company Limited (SPDCL) are waiting for the green signal from the government to cut off power supply to local bodies. share. 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. Charts Adani Enterprises has fixed June 4 as the record date for the scheme of arrangement and demerger involving Adani Enterprises, Adani Power and Adani Port & Special Economic Zone. Shares of the company were trading at Rs 37.85 apiece on BSE in afternoon session, down … Adani Power board on Monday approved the proposal to delist the company’s equity shares from stock exchanges. Intimation to Stock Exchange 2. 2 comments. Karnataka origin Dr Vivek Murthy to head Covid task force under Biden Parties on edge as many Bihar seats to … 2015 This is … The target company, immediately on the same day informed stock exchanges at … Unclaimed Refund Amount. Sandra (E). This video is unavailable. To be fair to the investors, the rule is that in such circumstances, the promoters of the delisted companies are required to purchase the shares from public shareholders as per the fair value determined by the independent valuer. Holders of securities in the region given exit opportunity, promoters make arrangement to buy securities of such holders. 37.80, making delisting an affordable option for promoters. Result of Postal Ballot – Scheme of Arrangement . Watch Queue Queue 7. Proposal for delisting shares is floated and a resolution to the effect is passed. Principal Officer: Manish Goel, Email: manish@equentis.com, +91 22 61013800 The companies are good Adani ports and Adani Enterprises. Vedanta: On 12 May 2020, the parent company of Vedanta Ltd. disclosed its intention to delist the company. APL_Intimation to St. Ex._Postal Ballot Results_24.07.2020. The delistings on involuntary account are mostly due to bankruptcies, failure to maintain the requirements set by the exchange, mergers, takeovers, stock performance etc. 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. Adani Power shares gained nearly 9 per cent on Monday after Gautam Adani- promoted electric utilities company said it will consider delisting of … Filing of forms with Registrar of companies “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. What is the voluntary delisting of shares? Make a public announcement through newspapers with detailed explanation and justification for the proposed delisting.