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of <h1>Issuance of Indian Depository Receipts: Key Conditions and Restrictions Under Current Foreign Exchange Export Laws</h1> The issuance of Indian Depository Receipts (IDRs) must comply with specific conditions: the repatriation of proceeds is governed by current foreign exchange export laws; IDRs cannot be redeemed into underlying equity shares within one year of issuance; the total IDRs issued in a financial year must not exceed 15% of the issuing company's paid-up capital and free reserves; and IDRs must be denominated in Indian Rupees, regardless of the issuing company's securities denomination.
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