RIGHTS ISSUE OF INDIAN DEPOSITORY RECEIPTS :

In the light of the Standard Chartered Rights Issue where rights could not be granted to IDR holders, SEBI amended the ICDR regulations, 2009 on September 23, 2011 by inserting a new chapter viz. Chapter XA in the existing regulations, governing the rights issue of Indian Depository Receipts. The chapter provides for the various governing criteria’s for a rights issue of IDR such as applicability, eligibility, disclosures etc.