Tata Consumer Products to delist GDRs from June 23

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Tata consumer products On Tuesday, it said it would remove global depository receipts (GDRs) from the London Stock Exchange and the Luxembourg Stock Exchange from June 23 this year.

Deutsche Bank Trust Company Americas, as the depository for the Company’s GDR holders, has issued a notice of termination.

The company said earlier that since the possession of the GDR compared to the paid-up capital over the years is insignificant, it has decided to end the GDR program and thus end its dealings with Deutsche.

Shares of Tata Consumer closed flat at $786 on BSE.