Indian companies no longer fancy raising equity capital from overseas markets. Furthermore, they are unwinding their existing overseas listing programmes.
Tata Motors on Monday was delisted from the New York Stock Exchange. The company joined a clutch of other Indian firms to have terminated its American depositary receipt (ADR) or global depositary receipt (GDR).
Some of these companies include Subex, Apollo Hospitals, Ashok Leyland, and Orchid Pharma.
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