The National Stock Exchange of India on Wednesday said that its subsidiary NSE International Exchange has become the first International Exchange in GIFT City to list American Depository Receipts (ADRs).
Dr. Reddy's Laboratories became the first Indian corporate to do a secondary listing of their ADRs at NSE IFSC.
"The secondary listing of Dr. Reddy's ADRs at NSE IFSC shall provide global investors an additional venue to transact in their ADRs.
"Participants holding depository accounts with either of the International Central Securities Depository (Euroclear Bank, Clearstream) or Depository Trust Company (DTC) shall be able to transact on these ADRs."
The trading at NSE IFSC Limited was launched on June 5, 2017 post receiving grant of recognition from SEBI.
At present, IFSC has already launched trading in Indian and global stock derivatives, index derivatives, currency derivatives, and non-agriculture commodity derivatives.