IDR issuance eligibility and SEBI approval required before fundraising, with compliance, fees and disclosure obligations. Issuance of IDRs is conditioned on meeting specified eligibility thresholds for capital, market capitalization, trading history and profit track record, obtaining prior SEBI approval on an application filed with a draft prospectus at least ninety days before opening, payment of non refundable application and issue fees, submission of a due diligence report through a merchant banker, appointment of an overseas custodian, domestic depository and merchant banker, in principle listing permission, capped annual underlying equity issuance, expanded disclosure on promoters and listing history, prescribed reporting and extended filing timelines, and monetary penalties for contraventions.