Benchmarks . Adani Power board on Wednesday appointed merchant banker Vivro Financial Services Pvt Ltd to evaluate the proposal to delist its equity shares from BSE and National Stock Exchange. Reports suggest that promoter are willing to delist the company that means they will buy 25% shares which public hold. 6. Post. According to Taxguru.in, corporates are now aiming at reducing costs, which do not have any returns. Adani Power on Tuesday sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. 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. Support quality journalism and subscribe to Business Standard. 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. [ad_1] 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. We take the quality of the messages posted on forum as seriously as our articles. After surging 15% in the last three days, the share price of Adani Power tanked over 8.7% from the day’s high on Wednesday as the Board of Directors took on record the proposal to delist … The decision on this will be taken in the next board meeting of the company. 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. 5Y Return. 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. Last Updated at November 6, 2020 10:16 IST. 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 will be 90 when it will be opened for delisting in Q4. Board Approval It is the permanent removal of stock from the stock exchange. Detailed explanation and justification for the proposed delisting is published in the newspaper as notice and copy filed with the stock exchange. That has a power generation capacity of 12,410 megawatts across six states in India. Adani Power has proposed delisting at ₹33.82 per share, which is at a discount of 10% over the closing price on June 19.Once the official delisting proposal 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. 2. Adani Power registered a profit before tax of Rs 2893 crore during the second quarter of the current financial year ending September 2020. This is one of the key reasons that companies exercise the option to Delist any or all class of securities. Post. New Delhi  We, however, have a request. | The Newshour Debate, India leads history's largest vaccine drive, but opposition plays dirty politics? The total expenses reduced to Rs 5,898.35 crore from Rs 6,658.44 crore in the year-ago period. This drop in the share prices … The choice on this shall be taken within the subsequent board […] 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. 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. The decision on this will be taken in the next board meeting of the company. | Converse India, Expert Panel decodes everything you need to know about India's COVID-19 vaccination drive, Union Health Minister Dr Harshvardhan briefs on India''s COVID-19 vaccination drive, Taliban welcome US troop withdrawal in Afghanistan, Operation Kamal: Siddaramaiah demands judicial probe, If world becomes bi-polar, how will India deal with it: RaGa, Covid vaccination drive: Bhutan, Lanka PMs congratulate Modi, MP: Social media friend rapes woman on promise of marriage, No mandatory 20-day leave for central govt employees: Govt, SBI vs ICICI vs HDFC Bank Senior citizens special FD rates, Google removes 30 personal loan apps from its Play Store, Bengaluru tops London for world's fastest-growing tech hub, Earn 7.15% fixed interest for 15 years in this PSU bond, 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. 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