The promoters, Adani Properties, said the objective of the delisting proposal was to enable the Promoter Group to obtain full ownership of the Company, which in turn will provide enhanced operational flexibility. As the Company will no longer remain listed in India, there will be a reduction in dedicated management time to comply with the requirements associated with the continued listings, which can be refocused on the Company's business.
Adani Green Energy hit a new high of Rs 287, surging 16 per cent in the past three trading days. The company on Monday said that there will be no material impact on the company’s profit due to the Covid-19 pandemic.
“The company has been raising invoices to all counterparties regularly and has been receiving the regular payments from all the DISCOMs and counterparties. The company doesn't expect any issue in servicing the debt and other financing arrangements” Adani Green Energy said in an exchange filing.
The consistent performance across assets in April 2020 with solar plant availability of 99.3 per cent compared to 99.5 per cent in April 2019 and wind plant availability of 95.7 per cent compared to 86.2 per cent in April 2019. The operational EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin is consistently maintained at around 90 per cent in April 2020 compared to 89 per cent for FY20, it added.
Among other group companies - Adani Enterprises was up 5 per cent at Rs 158, Adani Transmission up 2 per cent at Rs 190, while Adani Ports and Special Economic Zone was trading flat at Rs 340 on the BSE. In comparison, the S&P BSE Sensex was up 1.1 per cent at 34,196 points.