Adani Power board is planning to delist its entire equity shares from the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The meeting of the board of directors of the company to be held on June 03, 2020 to consider the same.
In the Delisting Proposal Letter, the Adani Properties (APPL), a member of the promoter and promoter group of the Company, has expressed its intention either by itself or together with other members of the Promoter Group as the case may be to acquire all the equity shares of the Company, each equity share having face value of Rs 10 held by the public shareholders of the company. The promoter group collectively holds 2,89,16,12,567 equity shares of the company representing 74.97% of the paid-up equity share capital. The public shareholders hold 96,53,26,374 equity shares, which corresponds to 25.03% in of the paid-up equity share capital. The board will also consider appointment of a merchant banker for delisting.
Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.
Company Name | CMP |
---|---|
NTPC | 351.40 |
Tata Power | 429.90 |
Power Grid Corp | 280.20 |
Adani Power | 599.15 |
Torrent Power | 1516.45 |
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