Issue of Global Depository Receipt (GDRs) / American Depository Receipts (ADRs)
Companies in India which have the eligibility to issue shares to person resident outside India, under the Foreign Direct Investment scheme, are generally allowed to raise equity capital in the international market by issuing rupee denominated shares to a non-resident depository for the purpose of issuing of GDRs/ADRs. This is possible with the approval of [...]