Skip to content
Search

Latest Stories

Submit Guest Post

Gautam Adani to delist Adani Power from Indian stock exchanges

Pramod Thomas
By Pramod ThomasJun 04, 2020
Pramod Thomas

Pramod Thomas is an assistant editor at Eastern Eye, where he covers British Asian affairs and key developments in UK politics and business. With two decades of journalism experience, his areas of interest include business, international affairs, current events, arts and culture. 

See Full Bio
Follow:

INDIAN billionaire Gautam Adani-owned Adani Power has appointed merchant banker for due diligence on delisting plan of the company.

The board of Adani Power has taken on record the delisting proposal letter and has appointed Vivro Financial Services Private as the merchant banker, reported the Economic Times.

Adani Power has a power generation capacity of 12,410 megawatts across six states in India.

A merchant banker has been appointed to finalise the delisting plan, the company informed the Indian bourses on Wednesday (3).

“After the receipt of the due diligence report from the merchant banker, the board will again meet to discuss the delisting proposal in detail,” the company said.

The Adani group announced its intention to delist its power utility last week, following Anil Agarwal announcing the delisting plans of Vedanta.

Promoters of the company hold 74.9 per cent stake in the company. The public shareholding is just over 25 per cen.

Shares of the company closed at Rs 38.70 on the Bombay Stock Exchange on Thursday (4). The price was up 2.65 per cent. The share price touched its year’s high of Rs 73.75 in November last year.

adani powergautam adanishare delisting
Add EasternEye As Your Trusted Source
preferred source on google news

Related News

Sanjay Bhandari's extradition appeal opens in London
Business

Sanjay Bhandari's extradition appeal opens in London

Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)
Business

Murdoch's bid to secure eldest son's control of media empire fails

Kamlesh Pattni faces UK sanctions for illicit gold trade
Business

Kamlesh Pattni faces UK sanctions for illicit gold trade

Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)
Business

India appoints Sanjay Malhotra as new central bank governor

EasternEye

More For You

Asos hacked

ASOS says hackers accessed customer information but not passwords or payment card details

iStock [Representational image]

ASOS hack exposed what millions of customers were searching for. Here’s what we know

  • ASOS says hackers accessed names, addresses, phone numbers and email details.
  • Recent customer search histories, including terms such as “glamorous wide fit”, were also exposed.
  • Passwords and payment card information were not accessed, according to ASOS.

ASOS has revealed that hackers gained access to millions of customers’ recent search histories, as well as names, addresses, phone numbers and email details, in a cyber attack on the online fashion retailer.

Searches including “glamorous wide fit”, “ASOS petite” and “reclaimed vintage” were among the information accessed, according to reports. The disclosure gives a clearer picture of the breach after ASOS initially said only basic personal information may have been affected.

Keep ReadingShow less