The board of directors of EID Parry India have authorised the company to make necessary application to Luxembourg Stock Exchange (LSE) to delist the company's GDRs listed on LSE.
The company made its debut on LSE in 1994 and currently each GDR is trading at $6.07. According to information available on LSE, each GDR equals one ordinary share of Eid Parry.
The company's equity shares will, however, continue to be listed on the National Stock Exchange and the Bombay Stock Exchange. The company has also made an application to Madras Stock Exchange for delisting of its equity shares and their approval is pending.
Shares of Eid Parry were trading at Rs 278 during the morning trading session on Wednesday, up two per cent over previous day's close.
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