The full form of GDR is Global Depository Receipt. Global Depository Receipt (GDR) are certificates issued by a depository bank, which purchases foreign company shares and deposits them in the account. GDRs are commonly used to raise capital from international investors through public stock offerings or private placement. It is a negotiable financial instrument issued by a foreign bank representing a foreign firm’s listed securities on a stock exchange other than the United States (US).
- Board resolution for authorisation to issue global depository receipts (GDRs)
- Special resolution for authorisation to issue GDRS
- 8-Form MGT-14 (web-based form) for filing of resolutions with Registrar with in 30 days of passing of resolution alongwith:-
(i) Certified copy of board resolution (exempted for private companies)
(ii) Certified copy of special resolution with explanatory statement
(iii) Consent to shorter notice (if applicable)
- Board resolution for allotment of GDRs
- e-Form MGT-14 (web-based form) for filing of board resolution within 30 day of passing (exempted for private companies)
- e-Form PAS-3 (web-based form) for return of allotment of GDRs within 30 days of allotment alongwith:-
(a) List of allottees, separate list for each allotment is mandatory (w.e.f. 23 January, 2023 this list is required to be attached in the excel format in the web-based Form)
(b) Copy of Board or shareholders’ resolution approving allotment of shares
(c) Valuation report from the registered valuer is mandatory in case obtained from valuer
(d) Copy of contract/complete particulars of contract duly stamped incase securities are issued other than cash
(e) Complete record of private placement offers and acceptances in Fom PAS-5 in case of private placement
- Compliance of provisions of section 42/62 as applicable
- Compliance with provisions of scheme and rules and regulations or guidelines issued by Reserve Bank of India for issue and allotment of GDRs
- Compliance report from Merchant Banker/Practicing Chartered Accountant/Practicing Company Secretary/ Practicing Cost Accountant to be placed before the board or committee thereof immediately after closure of all formalities of issue of GDRs
