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ADR &
GDRSUBMITTED BY:-HIMANI KALRA
MBA (GEN)
SECTION A
35
USM, K.U.K
SUBMITTEDTO:-
DR ANIL MITTALPROFESSOR
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TABLE OF CONTE NTS: -
What is ADR & GDR ? HOW ADR & GDR WORK ?
ADR RATIO SPECIMEN COPY O ADR AD!ANTAGES O ADR & GDR
INDIAN COMPANIES USING ADR &GDR
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WHAT IS ADR ?
ADR- AMERICAN DEPOSITARY RECEIPTS
A "#$%tia'# (#)ti*(at# iss+# a US
a"
R#/)#s#"ts a s/#(i*# "+0#) %1
sha)#s %1 a 1%)#i$" (%0/a"
ADRs a)# #"%0i"at# i" US %''a)s.
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HOW DOES ADR/GDR WORK’S
2#t +s ta# I"1%ss #3a0/'#- t)a#s %" th# I"ia" st%( ata)%+" )s.45556-
This is #7+i8a'#"t t% US9 5 ; ass+0# 1%) si0/'i(it
N%< a US a" /+)(has#s =5555 sha)#s %1 I"1%ss a"
iss+#s th#0 i" US i" th# )ati% %1 =5:=
This 0#a"s #a(h ADR /+)(has# is
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ADR RATIO
Si"$'#
= ADR =SHARE
ADR Rati% =:=
M+'ti/'#
= ADR @ SHARES
ADR Rati% =:@
)a(ti%"
= ADR SHARE
ADR Rati% 4:=
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SPECIMEN COPY FOR ADR
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ADR
T/#s %1 ADR:
ADR 'isti"$:
U"s/%"s%)# ADR
NASDA>
S/%"s%)# ADRAME
2#8#'=NYSE
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AD!ANTAGES O ADR:
It is a" #as a" (%st ##(ti8#
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GDR- GLOBAL DEPOSITRIORY RECEIPTS
A bank ce!"#ca!e "$$%e& "n 'e !an nec%n!* + $ae$ "n a +e",n c'an*.
O/ee& + $a0e ,0ba00* !%, !e 1a"%$bank bace$.
Sae$ !a&e a$ &'e$!"c $ae$.
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GDR- C2STODIAN BANK DEPOSITORY BANK
C%$!&"an bank 0ca!e& "n $a'e c%n!*.
4k$ "! !e &e$"!* bank an& +00$
"n$!%c!"n$ +' !e &e$"!* bank.
C00ec!$ 6 e'"!$ &"1"&en&$ an& +a&
n!"ce$ ece"1e& +' !e &e$"!* bank.
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GDR MARKET
GDR$ can be cea!e& cance00e& &een&"n, n
&e'an& an& $%0*.
4en $ae$ ae cea!e& 6 'e ca!e$!ck$ "$ 0ace& "n !e c%$!&"an bank "n !e
&e$"!* bank acc%n!. Te &e$"!* bank!en "$$%e$ !e ne GDR$.
Fac!$ ,1en"n, !e GDR$ "ce$ ae c'an*
!ack ec& 6 ana0*$!$ ec''en&a!"n$6e0a!"1e 1a0%a!"n$6 'ake! cn&"!"n$ an& a0$"n!ena!"na0 $!a!%$ + !e c'an*.
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GDR 2ISTING
2ONDON STOCK ECHANGE
2UEMBOURG STOCK ECHANGE
SINGAPORE ECHANGE
HONGKONG ECHANGE
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GDR- AD!ANTAGES &DISAD!ANTAGES GDRs a''%< i"8#st%)s t% i"8#st i" 1%)#i$" (%0/a"i#s
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INDIA- ADR & GDR
ADRs & GDRs a)# a" #3(#''#"t 0#a"s%1 i"8#st0#"t 1%) NRIs a" 1%)#i$""ati%"a's
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INDIAN COMPANIES USING ADR / GDR
COMPANY ADR GDR
Baa a+t% NO YES
D). )#s YES YES
HDC Ba" YES YES
Hi"a'(% NO YES
ICICI Ba" YES YES
I"1%ss t#(h"%'%$i#s YES YESITC NO YES
2& T NO YES
MTN2 YES YES
ETC
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