The Market Regulator Securities and Exchange Board of India (Sebi) is examining Adani Power Ltd’s proposal to delist its shares from the exchanges.
It will potentially create woes for the Adani Group which is already facing a wider probe by the markets regulator.
Two people aware of the development said Sebi’s scrutiny followed the Gautam Adani-held company announcing a buyback of shares at a price that is almost 65% less than the prevailing market price.
Shares of Adani Power tumbled from ₹155.8 on June 10 to ₹88.75 apiece on Thursday on BSE amid investor concerns following the Sebi investigation.
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With inputs from HT
