Indian Depository Receipts by Eligible Companies Residents Outside India [See Regulation 5(8) and 13]

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....lations New Regulations of 2017 1[Schedule 7 [See Regulation 5 (8) and 13] INDIAN DEPOSITORY RECEIPTS BY ELIGIBLE COMPANIES RESIDENT OUTSIDE INDIA 1. Issue of IDRs :- Eligible companies resident outside India may issue Indian Depository Receipts (IDRs) through a Domestic Depository, to persons resident in India and outside India, subject to the following conditions :- (a) the issue of IDRs ....

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....with the provisions of Securities and Exchange Board of India(SEBI) (Foreign Portfolio Investors) Regulations, 2014.] or an NRI may purchase, hold or sell IDRs, subject to the following terms and conditions :- (a) NRIs may invest in the IDRs out of funds held in their NRE / FCNR (B) account, maintained with an Authorised Dealer / Authorised bank. 2[(b) Limited two way fungibility of IDRs shall....