17.65 (1.51%) Tata Consumer Products has received approval from board of directors for termination of its Global Depository Receipts (GDR) program.
The Company has a GDR program wherein Deutsche Bank Trust Company Americas (Deutsche) was appointed as the exclusive depository for this program. The GDRs of the Company are listed on the London Stock Exchange and Luxembourg Stock Exchange. As the GDR holding as compared to the Paid-up Capital of the Company over the years is very insignificant, it has been decided to terminate the GDR program and thereby terminate the engagement with Deutsche. The Company will take necessary steps to terminate GDR program and its related aspects and consequently GDR will be delisted from London Stock Exchange and Luxembourg Stock Exchange.
Tata Consumer Products (formerly known as Tata Global Beverages) is a focused consumer products company uniting the food and beverage interests of the Tata Group under one umbrella.