What are Indian Depository Receipts IDRs and Who can issue IDRs
IDRs are like American Depository Receipts or Global Depository Receipts, except that the issuer is a foreign company raising funds from the Indian market.
IDRs are rupee-denominated and created by a domestic depository against the underlying equity shares of a foreign company.
Any company listed in the country of incorporation can issue IDRs.
Besides, the issuer needs to fulfill the other conditions as prescribed above.