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Journalism of Courage
Leading steel firm Uttam Galva Steels said it is in process of making an exit from the Delhi Stock Exchange.
“We are in the process of delisting from the Delhi Stock Exchange,as there is no transaction on the bourses. It will help in minimising certain administrative cost,” Uttam Galva Steels Director Commercial Ankit Miglani said.
He said the company had applied for the delisting few years back but the process is now going forward.
In an advertisement in a leading daily,Uttam Galva said that it is in process of moving an application for its exit from the regional bourse.
“…Uttam Galva Steels Ltd is in process of making application for voluntary delisting its equity shares,” the company said.
“We will continue to be listed on the National Stock Exchange and the Bombay Stock Exchange,” he added.
As per the delisting guidelines,the company’s shares can be delisted from the DSE even if the shares of the company continue to be listed on the BSE and NSE.
The Delhi Stock Exchange Association Limited (DSE) was incorporated on June 25,1947. The exchange is an amalgamation of Delhi Stock and Share Brokers’ Association Limited and the Delhi Stocks and Shares Exchange Limited.
Uttam Galva,in which ArcelorMittal is a co-promoter,has a market capitalisation of Rs 1,790 crore.
