BNY Mellon lobbies for unlisted India ADRs
The firm points to strong investor appetite, largely from the US, to buy Indian equities through over-the-counter American depositary receipts.
While India has recently widened channels allowing foreign investors to invest directly into equities through the qualified foreign investor (QFI) scheme, BNY Mellon says it is missing out on billions of dollars of investor demand via the over-the-counter market.
Fund managers, chiefly in the US, are hoping to get exposure to India-listed companies through OTC American depositary receipts (ADRs), notes Neil Atkinson, vice-president of depositary receipts in Hong Kong at BNY Mellon…
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