Tata Motors one of many as India Inc turns averse to ADRs and GDRs

Apart from HDFC Bank, no other Indian firm has raised capital via these routes since 2017

Samie Modak Mumbai
Illustration: Binay Sinha

Illustration: Binay Sinha

Indian companies no longer fancy raising equity capital from overseas markets. Furthermore, they are unwinding their existing overseas listing programmes.
Tata Motors on Monday was delisted from the New York Stock Exchange. The company joined a clutch of other Indian firms to have terminated its American depositary receipt (ADR) or global depositary receipt (GDR).
Some of these companies include Subex, Apollo Hospitals, Ashok Leyland, and Orchid Pharma.

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First Published: Jan 24 2023 | 6:44 PM IST

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