InvestorQ : How soon is the Adani Power delisting expected to go through?
sara Kunju made post

How soon is the Adani Power delisting expected to go through?

Answer
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3 months ago


The board of Adani Power has approved the delisting of the equity shares from the Indian stock exchanges. In consultation with its lead managers, Adani Power has worked out the floor price of the delisting buyback at Rs.33.82 per share. In all, Adani Power will buy 96.53 crore shares from the retail public and institutions for a value of Rs.3264 crore.

To begin with, the company will seek shareholders approval for delisting on BSE and NSE through a postal ballot. An important step is to get the approval of the minority shareholders and the delisting cannot proceed without that. The actual delisting can happen only if the promoters are able to buy back 90% of the overall capital of the company.