Explain the issue process of GDRs?



(i) First of all, the company issuing GDRs handover its shares to some Domestic Custodian Bank (DCB).
(ii)Then DCB requests some Overseas Depository bank (ODB) situated in foreign country for issuing the shares as GDRs.
(iii) The ODB converts the shares into GDRs denominated in US dollars.
(iv) At the end, ODB issues them to the intending investors.