The Adani group wants to delist Adani Power, whose board will meet on June 3 to consider the proposal.
If approved, this will be the first time billionaire Gautam Adani will de-list a business.
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. In the letter Adani Properties expressed the intention “to either by itself or together with other members of the promoter group acquire all the equity shares of the company”. With this, Adani Power is the second company to announce a delisting this month. On May 12, Anil Agarwal-led Vedanta said the company would voluntarily delist from the BSE and National Stock Exchange.
