MUMBAI, SEPT 1: Reliance Petroleum is planning to delist from Ahmedabad Stock Exchange due to high listing fee charged by the exchange. The delisting will take place as soon as the company receives permission from all the relevant authorities and the shareholders, the company said.The oil firm has recently commissioned India's largest private sector refinery in Jamnagar in Gujarat and sought approval from its shareholders in the forthcoming annual general meeting to voluntary delist its shares in its effort to cut costs.The company says with the extensive networking of the Bomaby Stock Exchange through its BOLT terminals and the National Stock Exchange, investors have access to online trading in the company's securities all over the country.Besides, it adds, a bulk of trading is taking place in NSE and BSE in permitted category while trading on Ahmedabad SE is far lower. The Ambani firm says that the investors located in the Gujarat region have an access to trade on the securities through Saurashtra Kutch Stock Exchange in Rajkot.``Thus, as a cost cutting measure, the company will delist all its securities from the Ahmedabad SE in future,'' it says. The actual timing of such a move will depend upon future developments regarding integration of stock exchanges across the country, the growth in volume of trading on different SEs etc.
