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of <h1>Foreign companies can issue Indian Depository Receipts to residents and non-residents through domestic depositories with regulatory compliance</h1> Foreign companies may issue Indian Depository Receipts through domestic depositories to residents and non-residents, subject to compliance with company registration and securities regulations. Financial companies require sectoral regulator approval. IDRs must be denominated in rupees with proceeds immediately repatriated outside India. Foreign portfolio investors, non-resident Indians, and overseas citizens may purchase IDRs with limited two-way fungibility. IDRs cannot be redeemed into underlying equity shares for one year from issuance, and redemption must comply with foreign security transfer regulations.
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