Eligibility for Indian depository receipts: capital, profitability, dividend and leverage prerequisites plus compliance with SEBI criteria govern issuers. Issuance of Indian Depository Receipts is permitted only where the issuing company meets prescribed thresholds for pre-issue paid-up capital and free reserves, maintains a required average turnover in the preceding three years, has earned profits for a continuous multi-year period with minimum annual dividend distributions during that period, and observes a maximum pre-issue debt-equity ratio; additionally, the company must fulfil any further eligibility criteria laid down by SEBI.