Investment in Depository Receipts allows transfers to foreign depositories subject to eligibility, pricing parity and foreign holding limits.

Schedule 9 permits issuance or transfer of securities or units that qualify as eligible instruments to foreign depositories for issuance of depository receipts, subject to eligibility under the Depository Receipts Scheme and Central Government guidelines. Domestic custodians may acquire instruments on behalf of non-residents for conversion. The aggregate held or issued to foreign depositories must not exceed applicable foreign holding limits, and such instruments must not be issued or transferred for depository receipt issuance at prices lower than those applicable to corresponding domestic modes of issue or transfer.

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