Adani Power board on Monday approved the proposal to delist the company’s equity shares from stock exchanges.
The company has worked out the floor price of an equity share of Rs 33.82 to buy 96.53 crore scrips with the public for about Rs 3,264 crore.
In a regulatory filing, the company said it will seek shareholders nod for delisting on BSE and NSE through a postal ballot.
Shares of the company were trading at Rs 37.85 apiece on BSE in afternoon session, down 0.39 per cent from their previous close.