Question

Depository bank has right to issue one GDR certificate for _______ shares.

• A. 2 to 10
• B. 3 to 5
• C. 4 to 8
• D. 5 to 10

Answer 1

The correct option is A 2 to 10

GDR is a foreign currency denominated derivative instrument in the form of depository receipt created outside India and issued to non-resident investors. GDR stands for Global Depository Receipt. It is a bank certificate issued in more than one country for shares in a foreign company.Depository bank has right to issue one GDR certificate for 2 to 10 shares.