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Answer Posted / arvind sharma (usms)
Global Depository Receipts is a certificate issued by
investment banker to general public against the issue of
shares of some foreign country .
If any company wants to issue GDR to raise funds from
foreign; Firstly it has to contact with the merchant
banker of home country & also have to make approval from
RBI, then it contacts with the investment banker of foreign
company, then investment banker will purchase the shares
from the merchant banker & then issue it to public through
green shoe option. When we not do not want money from the
foreign then we buy shares from foreign public & shares
came back to India.
Reliance Industries Ltd. was the first company to raise
funds through a GDR issue.
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