Tata Power has announced. The Board has approved the delisting of the GDS programme. The Luxembourg Stock Exchange has approved the delisting of GDS. Apart from this, the company has said that it will buy 40% stake in Khorlochhu Hydro Power. The company will buy 40% stake for Rs 830 crore.

GDR stands for Global Depository Receipt – GDR is declared for a company to be listed in more than one country.

Companies issue GDRs to foreign investors to raise funds. For example if an Indian company wants to list ADRs, it has to list the same number of shares on the Luxembourg Stock Exchange.

The depository will issue receipts to investors who have subscribed to the GDR issue. Depository receipts are transferable instruments.

That means they can be bought and sold on the stock exchange on which they are listed. A GDR holder can ask the depository to convert them into underlying shares and sell them on the Indian stock market.