Issue of Indian Depository Receipts subject to rupee denomination, immediate repatriation, regulated fungibility and redemption conditions. IDRs issued by foreign companies through a Domestic Depository must comply with company registration and capital market disclosure requirements; financial or banking issuers with Indian presence require sectoral regulator approval. IDRs must be denominated in Indian rupee and proceeds immediately repatriated. FPIs, NRIs and OCIs may purchase, hold and sell IDRs subject to specified payment and remittance procedures, limited two way fungibility, a one year redemption lock in before conversion to underlying equity, and compliance with transfer or issue regulations.