Adani Power has received shareholders’ approval for its Rs 32.64 billion delisting proposal.
In June 2020, Adani Power had issued a notice for voluntary delisting of equity shares of the company from BSE Limited and NSE of India Limited. The company has worked out the floor price of Rs 33.82 per share to buy 96.53 crore equity shares with the public for about Rs 32.64 billion. The promoter group collectively holds 2,891,612,567 equity shares of the company representing 74.97 per of the paid-up equity share capital. Public shareholders hold 965,326,374 equity shares, which correspond to 25.03 per cent of the paid-up equity share capital. The board had approved the proposal after evaluating report of the merchant banker.