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Answer Posted / vidhi
INTERNATIONAL FINANCING!
we learnt this in class 11!
Modern organisations including MNCs depend up on sizeable
borrowings in rupees as well as in foreign
currency .Prominent financial instruments used for this
purpose are GDR,ADR,FCCB.
Q.What is GDR?
The local currency shares of a company are delivered to the
depository bank.The depository bank issues depository
recepits against these shares.such deposiory receipts
denominated in US dollars are known as GDR's.
In the indian context, A GDR is an instrument issued abroad
by an indian company to raise funds in some foreign
currency and is listed and traded on a foreign stock
exchange .
A holder of GDR can at anytime convert it in to the no. of
shares it represents.
A holder of GDR does not carry any voting rights but only
dividends and capital appreciation.
Many Indian companies such as Infosys,RELIANCE,WIPRO AND
ICICI have raised money through the issue of GDR's!!
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