https://www.taxtmi.com/circulars?id=58311 SEBI permits two-way fungibility of IDRs with underlying equity shares to boost foreign participation, allowing conversion/redemption and reconversion subject to preservation of domestic liquidity. Conversion in a financial year is limited to 25% of originally issued IDRs, and detailed amendments to the legal framework will be issued separately; effectiveness and rescission of the prior circular hinge on those subsequent instructions. The circular is issued under Section 11 read with Section 11A of the SEBI Act, 1992. en-us Tue, 28 Aug 2012 00:00:00 +0530 Thu, 26 Feb 2026 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=58311 SEBI permits two-way fungibility of IDRs with underlying equity shares to boost foreign participation, allowing conversion/redemption and reconversion subject to preservation of domestic liquidity. Conversion in a financial year is limited to 25% of originally issued IDRs, and detailed amendments to the legal framework will be issued separately; effectiveness and rescission of the prior circular hinge on those subsequent instructions. The circular is issued under Section 11 read with Section 11A of the SEBI Act, 1992. Circulars SEBI Tue, 28 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/circulars?id=58311