Tablet maker Granules India Ltd has requested the Luxembourg Stock Exchange for de-listing of Global Depository Receipts (GDRs).
The request was made as there were no outstanding GDRs following the conversion into equity shares, the Hyderabad-based company informed the Bombay Stock Exchange (BSE).
GDR is a certificate issued by a bank in more than one country for shares in a foreign company. The shares are held by a foreign branch of an international bank. The shares trade as domestic shares.
The company’s scrip gained 4.72 per cent on the Bombay Stock Exchange on Tuesday to end at Rs 951.55.