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Homework answers / question archive / A company proposes to exchange its GDRs with IDRs
A company proposes to exchange its GDRs with IDRs. This has the following implication:
(a) The GDRs will be converted into shares and IDRs will be issued against them
(b) The IDRs are issued against local shares which are exchanged with the GDRs
(c) The IDRs are issued against the GDRs at an agreed ratio
(d) SEBI’s pricing guideline will apply
(e) The IDRs and GDRs are valued independently
(f) The IDRs have to be issued at the CMP of the GDR.
