ITC Ltd has formally completed the voluntary delisting of its ordinary shares from the Calcutta Stock Exchange (CSE), effective 20 November 2025, as confirmed through a regulatory filing. This delisting ends ITC’s long-standing association with one of India’s oldest stock exchanges, established in 1908. Despite exiting CSE, ITC clarified that its shares will continue to remain listed on the NSE and BSE, ensuring that shareholders experience no disruption in trading or liquidity. This is significant because trading on CSE has already been suspended since 2013 due to regulatory non-compliance, making ITC’s delisting largely procedural rather than impactful in daily market operations.
The company executed this delisting under Regulations 5 and 6 of SEBI’s Delisting of Equity Shares Regulations, 2021, after securing board approval and notifying CSE in advance. The exchange has now granted its formal approval. The move also coincides with CSE’s broader plan to exit the stock-exchange business entirely. Once the exit is complete, CSE will operate as a holding company, while its subsidiary, CSE Capital Markets Pvt Ltd, will continue providing broking services on the NSE and BSE. This transition reflects the ongoing consolidation of India’s equity markets, where regional exchanges have gradually become less relevant due to lower trading activity, outdated infrastructure, and tighter regulatory standards.
For shareholders, the delisting has no adverse consequences. ITC remains actively traded on India’s two largest exchanges, and investors can continue buying or selling the stock just as before. The decision is therefore more symbolic, representing the fading role of legacy regional exchanges in a market now dominated by national platforms. At the same time, it underscores ITC’s compliance with regulatory developments and its focus on maintaining efficient, modern market access for investors.
Going forward, investors may track SEBI’s final approval of CSE’s complete exit and any additional structural updates, though ITC’s delisting is unlikely to affect stock performance or investor behaviour. The move essentially closes a historical chapter without altering the company’s market presence.