 "Sebi")
In a move that may benefit Indian companies as well as foreign investors, regulator Sebi has issued a new framework for issue of depository receipts for greater exposure to world markets for raising capital and enhancing their shareholder base.
DRs are foreign currency denominated instruments, issued by a foreign depository backed by securities of an issuer, issued or transferred to a domestic custodian and are listed on an international exchange. These can get listed on international exchanges in permissible jurisdictions.
Experts believe that issuing DRs has the added benefit of increasing the share's liquidity while boosting the company's prestige on its local
