What are Indian Depository Receipts (IDRs)

Indian Depository Receipts (IDR) are similar to Global Depository Receipts (GDRs) and American depository receipts (ADRs). Just like GDRs and ADRs, Indian Depository Receipts (IDR) are derivative instruments that have shares as the underlying assets

The IDRs allow foreign companies to raise capital in India. Like any other depository receipts IDRs are negotiable financial instruments, issued by a local depository against the shares of the foreign company's publicly-traded securities held by it.

With its IDR Issue that opens from May 25, 2010, Standard Chartered PLC becomes the first global company to file for an issue of Indian Depository Receipts in India