Limited two way fungibility of Indian Depository Receipts allowed subject to conversion rules, reissuance limits, and regulatory oversight. Limited two way fungibility for Indian Depository Receipts is permitted subject to conversion governed by prior guidelines' conditions, fresh issuance under existing provisions, re issuance only to the extent of redeemed/converted and sold IDRs, and an overall capital raising cap monitored by SEBI; issuance, redemption and fungibility are subject to SEBI (Issue of Capital and Disclosure Requirements) Regulations and other applicable government, SEBI and RBI guidelines.