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Personal website of R.Kannan (1199 words) |
 | Global Depository Receipts means any instrument in the form of a depository receipt or certificate (by whatever name it is called) 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. |
| A GDR issued in America is an American Depository Receipt (ADR). |
| GDR Issues by Indian Corporates are floated as per scheme approved and notified by the Finance Ministry titled "Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depositary Receipt Mechanism) Scheme, 1993". |
| Skindia GDR Monitor - News (433 words) |
| As the fall in the underlying shares was more, the premiums of the 60 GDRs inched upwards to 4.64% on Jan 28 from 4.31% on Jan 21 while the average spreads of the 37 most actively traded GDRs narrowed to 8.08% on Jan 28 from 8.23% on Jan 21, indicating that the undertone remains positive. |
| The over all Depositary receipt market also did not fare as well in 1998 as against 1997, where 152 new depository receipt (DR) programs from 49 countries were established as compared with 204 programs from 50 countries in 1997. |
| The total capital raised from Depository Receipts amounted to $9.3bn in 1998, a decrease of 50% from the $18.6bn raised during 1997.The largest offering was from Equant NV in the Netherlands which raised $705 million in July. |
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