The bid lot or the minimum lot size for IDR Issue of Standard Chartered PLC for the Retail Category of Investors would be initially 200 Indian Depository Receipts (IDRs) and thereafter in multiples of 50 Indian Depository Receipts (IDRs). Earlier, the price band for the IDR Issue was fixed at Rs.100/- to Rs.115/- per Indian Depository Receipt (IDR)

Standard Chartered PLC IDR issue would be open between Tuesday, May 25, 2010 and Friday, May 28, 2010. The final issue price per IDR will be set and announced thereafter. Ten Indian Depository Receipts (IDRs) would equal to one share of Standard Chartered PLC with the Face Value of each underlying share represented by IDRs being US $0.50 per share

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Standard Chartered PLC, a Bank listed on the London and Hong Kong Stock Exchanges, is coming up with an Indian Depository Receipts (IDRs) Issue which opens from Thursday, May 25, 2010

The price band for the issue would be decided in consultation with the Book Running Lead Managers (BRLMs), during which the closing price of the bank on the London Stock Exchange will be taken into consideration. The price band would be advertised at least one Business Day prior to the Issue Opening Date


Update: Standard Chartered PLC IDR Issue - Price Band announced

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