Manipal (Karnataka)-headquartered Syndicate Bank is in the process of delisting its equity shares from the Bangalore Stock Exchange. The bank has already obtained the approval of the Board and the shareholders in this regard.
"Our bank is in the process of getting the equity shares of the Bank voluntarily delisted from the Bangalore Stock Exchange Ltd, as it is felt that continued listing with Bangalore Stock exchange does not provide any significant tangible advantage to the shareholders," the banks informed the BSE on Friday.
It is understood that the delisting from Bangalore Stock Exchange would help the bank in reducing costs and some administrative works.
The shares of the bank are currently listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The bank further informed that the equity shares would continue to be listed in both these exchanges.