Tata Motors Ltd. said that it will voluntarily delist its American Depository Shares from the New York Stock Exchange and terminate its ADS programme.
"Since the company's ADSs were issued in 2004, the company has witnessed a considerable increase in liquidity and foreign shareholder participation in the equity stock markets in India," the company said in an exchange filing.
The company has further considered the consistent drop in the number of ADSs outstanding as a percentage of its outstanding shares, it said.
Each ADS represents five shares with a face value of Rs 2 each.
The country's largest electric vehicle maker will also terminate its reporting obligations to the U.S. market watchdog.
The company will "concentrate" on trading on Indian exchanges, it said.
Moreover, the ADS programme will terminate 60 days after the depositary delivers a formal notice of termination of the deposit agreement to ADS holders.
Holders will be able to surrender their ADSs in exchange for the underlying shares of the company.
The automaker's consolidated net loss narrowed to Rs 944.6 crore for the quarter ended September, from Rs 4,438.5 crore last year.
The automaker said that while demand remains strong, it will remain a key monitorable amid global uncertainties. Improving chip supply and cooling of commodity prices will aid revenue growth and margin recovery in the second half of the current fiscal, it said.
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