Tag: DVR share

MUMBAI: Tata Motors' move to cancel its DVR (differential voting rights) shares, which are trading at a discount to its ordinary shares, will cost the company Rs 100 crore, said chairman N Chandrasekaran, primarily due to stamp duty. The auto major is cancelling DVR shares, which carry lower voting rights but higher rate of dividend, 15 years after it issued them. With shareholders quizzing Chandrasekaran on Tata Motors' equity capital reduction move at the annual general meeting (AGM) on Tuesday, the chairman said that it is being done...