1. Mahindra & Mahindra appoints JP Morgan Chase Bank for managing global depository receipt programme

Mahindra & Mahindra appoints JP Morgan Chase Bank for managing global depository receipt programme

Mahindra & Mahindra (M&M) today said it has appointed JP Morgan Chase Bank for managing the global depository receipt (GDR) programme of the company.

By: | New Delhi | Published: January 4, 2017 7:50 PM
Mahindra & Mahindra, M&M, JP Morgan Chase Bank, GDR, global depository receipt, Bank of New York, Mellon, IOB, London Stock Exchange, International Order Book Mahindra & Mahindra said it has appointed JP Morgan Chase Bank for managing the global depository receipt programme of the company. (Reuters)

Mahindra & Mahindra (M&M) today said it has appointed JP Morgan Chase Bank for managing the global depository receipt (GDR) programme of the company.

The company has appointed JP Morgan Chase Bank N A as its overseas depository for managing its global depository receipt (GDR) programme with effect from January 3 in place of the Bank of New York, Mellon, M&M said in a regulatory filing.

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The GDRs of the company are listed on the Luxembourg Stock Exchange and are also admitted for trading on International Order Book (IOB) of the London Stock Exchange, it added.

Each GDR represents one ordinary share of the company, it said.

M&M shares closed 0.17 per cent down at Rs 1,221.15 on the BSE.

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