Trading of Tata Motors DVR shares suspended. Here's why
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Trading of Tata Motors DVR shares will stop today as Tata Motors on Tuesday announced that trading of its differential voting rights (DVR) shares will cease due to their conversion into ordinary shares. The company had planned to cancel the DVR shares, which have been listed since 2008, and replace them with ordinary shares. For every 10 DVR shares, investors will receive seven ordinary shares.The company had earlier set September 1 as the record date for this share swap. “In pursuance of Regulation 3.1.2 of the National Stock Exchange Trading Regulations Part A, it is hereby notified that the following security will be suspended from trading w.e.f. August 30, 2024 (i.e., closing hours of trading on August 29, 2024),” said the company in a filing to the exchanges. Tata Motors informed that the company has received approvals from the National Company Law Tribunal (NCLT), Mumbai Bench. The Tribunal approved Tata Motors' plan to reorgani...