Difference between stock markets exchange for a stock

According to Reliance's Investors' Handbook and "Shareholders’ Referencer", the security trading on the London Stock Exchange is a Global Depository Receipt (GDR)^†.

Looking at the GDR's page on the London Stock Exchange website, I see:

RIGD GDR (EACH REPR 2 ORD INR10 LEVEL1)(144A)

Similarly on the Frankfurt Stock Exchange's website:

RELIANCE INDS GDR 144A/2

It appears that each GDR share represents 2 ordinary shares.

The underlying stock price on the NSE is about 2026 INR according to Google (screenshot), while the GDR is trading at about 55 USD on the London Stock Exchange.

2 * 2026 INR ≈ 55 USD

There is effectively no price discrepancy.

What is the explanation for this?

The lesson is: you have to look at the depository receipt's ratio to the underlying. In this case, the ratio is 1 GDR to 2 ordinary shares.

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^† Oddly, the "Shareholders' Referencer" document says that the London Stock Exchange symbol for the GDR is "RILGD". In reality, the symbol is "RIGD".