Adani Power shares surge 10% as Gautam Adani plans to delist Co
Shares of Adani Power rose 10 per cent to Rs 40 on the BSE on Monday after the Gautam Adani- promoted electric utilities company said its board will meet to consider delisting the company from the stock exchanges.
“The meeting of board of directors of Adani Power to be held on Wednesday, June 03, 2020 to consider the proposal for voluntary delisting of the equity shares of the Company received from the promoter company,” Adani Power said in an exchange filing.
As of the date, the Promoter Group collectively holds 74.97 per cent of the paid-up equity share capital of Adani Power. Public shareholders hold the remaining 25.03 per cent stake in the company, of which 12.35 per cent is with foreign portfolio investors and 7.40 per cent holding’s with other institutional investors.
