Answer Posted / preeti k
Global Depository Receipt means any instrument in the form
of a depository receipt or certificate created by the
overseas depository bank outside India and issued to non-
resident investors against the issue of ordinary shares or
Foreign Currency Convertible Bonds of issuing company.
Among the Indian Companies, Reliance Industries Ltd. was
the first company to raise funds through a GDR issue.
Samsung Electronics of Korea was the first developing
country firm to tap into the GDR market.
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