The board of directors of the company has approved the proposal for delisting of GDRs from London Stock Exchange (LSE), the company said in a filing to the BSE.
When contacted, a Taj spokesperson told PTI, "Presently, only 1,96,380 GDRs remain outstanding. Consequently, the trading volume of GDRs on the LSE is extremely low and virtually non-existent."
"In the light of low trading volume of GDRs on LSE, the company considers it more cost effective to cancel the listing of the GDRs from the LSE."
IHCL said the delisting will be subject to "getting requisite approval from concerned agencies and other regulatory authorities and necessary filing with the relevant stock exchanges as may be necessary".
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