Indian companies can list on foreign stock exchanges without GDRs

The chapter discusses the recent amendment made by the government to the companies act in 2020, allowing certain Indian companies to list their shares on foreign stock exchanges without the need for Global Depository Receipts (GDRs). It explains the drawbacks of using GDRs, such as the requirement of being listed on Indian stock exchanges first and the exposure to currency fluctuation risk. The chapter also mentions the simpler rules introduced in 2014 for DRs, but due to concerns about money laundering, the implementation has been slow. The government has made amendments and additional rules to address the issue and hopes that this change will make it easier for Indian companies to raise money overseas.