Global Depository Receipts defined as depository instruments issued abroad or in IFS centres against specified underlying securities. Global Depository Receipts are instruments created by an Overseas Depository Bank outside India or in an International Financial Services Centre, issued as a depository receipt or certificate to investors against specified underlying securities. They include (i) ordinary shares of an issuing company listed on a recognised stock exchange in India; (ii) foreign currency convertible bonds of the issuing company; and (iii) ordinary shares of an issuing company incorporated outside India where the receipt is listed and traded on an International Financial Services Centre.