The company has obtained approvals from all the concerned authorities including Sebi, Narender Surana, MD, STL, told The Financial Express. The scrip would be delisted on MSE from May 15, 1999 onwards, he said. The company is seeking to buyback the shares at Rs 17 each which is higher than the Rs 13 and Rs 14 it commanded on the Bombay Stock Exchange and the Hyderabad Stock Exchange (HSE) respectively on Monday. Surana Telecom is engaged in the business of jelly filled cables, fibre optical cables etc and is the main supplier to DoT. The company is also entering into a pact with a Chinese company, Chiang Jiang, to market "heat shrinkable cable"in the domestic market.

At present DoT is evaluating the quality and cost of the product and is expected to take a decision by the first week of May, Surana said.