 "Smaller cos with outstanding depository receipt are form small- and mid-cap")
The majority of listed firms with outstanding depository receipts belong to the small- and mid-cap segments.
There are 68 listed companies with outstanding depository receipts. A total of 44 are from the small and mid-cap segments. These include 35 small-cap companies.
A depository receipt is an instrument which can be used by Indian companies to raise capital abroad. The Finance Minister recently announced a liberalisation of this route.
Mehul Savla — Director at boutique investment bank RippleWave Equity — said that smaller companies often used the route to access pools of foreign capital which weren’t available domestically.
“Two decades ago,
