People. Macro Minutes | Budget 2021: HSBC Chief Economist Pranjul Bhandari pins hopes on higher tax buoyancy, privatization in FY22. In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. Post. The total expenses reduced to Rs 5,898.35 crore from Rs 6,658.44 crore in the year-ago period. 12.43 % Invest Now. Enjoy Reading! Adani Power Ltd on Monday gave the final nod to its voluntarily delisting of equity shares at Rs 33.82 which is 10 per cent less than its previous closing of Rs 38 on Friday. It had also placed on record that APPL (Adani Properties Private Ltd) and other members of the Promoter Group or their related entities are in compliance with delisting regulations". New Delhi  Over the last decade, the two companies have demonstrated volatility in their debt to equity ratio. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. At the time of approving delisting proposal last month, the board had also "took on record the letter dated June 22, 2020 from APPL informing that as per the certificate dated June 22, 2020 issued by Dharmesh Parikh & Co. Chartered Accountants Rs 33.82 is the floor price per equity share". 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. The promoters of Adani Power own 74.97%, while the rest is owned by mutual funds, foreign institutional investors and retail investors. 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. Topics Adani Power Ltd. shares gained as much as 9.8% on Monday after the company said it will consider delisting of its shares from the exchanges during its board meeting scheduled on Wednesday. Promoter hold 75% shares in adani power. The company had suffered a loss of Rs 633 crore in the first quarter. Announcements made in the month of May by Vedanta and Adani Power livened the debate on whether delisting the stock at a time of distress in asset markets can extend an undue advantage to the promoters. Announcements made in the month of May by Vedanta and Adani Power livened the debate on whether delisting the stock at a time of distress in asset markets can extend an undue advantage to the promoters. The Adani Group’s power arm, Adani Power has announced the appointment of Vivro Financial Services as the merchant banker to evaluate its proposal of delisting its equity shares from BSE and NSE. Copyrights © 2021 Business Standard Private Ltd. All rights reserved. Adani Power on Friday informed the exchanges it had received a delisting proposal from Adani Properties, which is a member of the promoter and promoter group. Benchmarks . Shares of Adani Power on the BSE on Friday closed at Rs 36.40, higher by 0.97 per cent from its previous close. Taking cognizance of the announcement the Adani Power shares surged 8.14% on Sensex to trade Rs 39.20 per share. 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. Key Developments. “We have received approval from close to six lenders. 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