Majority of the Indian companies which have listed their GDRs are in construction, software and biotechnology sectors, it said.
GMR Infrastructure on Tuesday said it plans to raise Rs 50 billion (Rs 5,000 crore) by selling shares in domestic as well as international markets.
ICICI Bank has asked the government not to take into account overseas securities like ADR and GDR when deciding on whether a bank is Indian or foreign.
Weighed down by the oil-to-chemicals (O2C) business, Reliance Industries (RIL) results for the April-June quarter (Q1) of 2024-25 (FY25) missed Street estimates. A 14 per cent fall in the O2C segment's operating profit compared to the year-ago quarter and a 22 per cent sequential decline pulled down the consolidated performance. The O2C segment accounts for a third of the overall operating profit and about 60 per cent of the attributable consolidated profit.
The ministry of corporate affairs (earlier company affairs) is amending the stringent IDR (Indian depository receipts) regulations to make it easier for foreign companies to list here.
'He will be remembered more for what he did as finance minister -- as someone who functioned well when the political fallout was taken care of.'
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So far, RBI was granting Indian companies to issue non-convertible or redeemable preference shares or debentures to non-resident shareholders on a case-to-case basis.
If the entire amount of Rs 24,000 crore is raised, then it would be the biggest fundraising exercise by any Indian company ever.
The country's most valuable lender HDFC Bank can perhaps no longer claim to be a favourite of foreign portfolio investors (FPIs). Two data indicators, both somewhat interconnected, point to this - the diminishing premium of HDFC Bank's American depositary receipts (ADRs) compared to local shares, and the ample investment opportunities available to FPIs in the domestic market. The ADR premium has shrunk to below 5 per cent, down from over 30 per cent in March 2021, and even lower than recent levels.
The Reserve Bank of India's (RBI's) decision on Wednesday to relax restrictions on banks operating in the International Financial Services Centre (IFSC) related to the repatriation of idle funds in foreign currency accounts (FCA) could give a fillip to trading in foreign stocks at the GIFT City.
The two -- along with five other private sector banks -- are likely to get impacted by the new FDI policy as foreign shareholding in these entities in different forms like American depositary receipts and global depository receipts exceeds 50 per cent.
In April, the US stopped funding to WHO as the Trump administration reviewed the ties.
Although Trump had announced his decision to withdraw from the historic Paris Agreement on climate change on June 1, 2017, the process began on Monday with the formal notification and the US will be out of the pact on November 4, 2020.
High-networth individuals and domestic funds from India are eyeing a slice of the much-touted mega IPO of Chinese e-commerce giant Alibaba, which looking to raise an eye-popping $21.1 billion.
The branch is likely to be inaugurated on Saturday by Prime Minister Narendra Modi, who is on a three-day visit to China
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