DR to Shares
Covert DR to Equity Shares:
Looking to convert Depository Receipts to Equity Shares of Indian Companies ?
What Is a Depository Receipt (DR) ?
DR enables an already listed company to raise further capital from international markets. It is a tradable and negotiable instrument. DRs and their dividends are priced in the local currency of the exchanges where the DRs are traded. DRs represent an easy way for international investors to own foreign stocks.
What do we do ?
We facilitate the conversion of depository receipt to equity shares in India. We provide services to sell these shares on the Indian stock exchanges and remit the proceeds to your overseas bank account.
Process to convert DR to Shares:
1. Open NRE-DR Type Demat and Brokerage account with Nirmal Bang Securities.
2. Open NRE Savings and NRE PIS account with any AD Bank in India.
We have tie-up with HDFC Bank, Axis Bank, ICICI Bank, IndusInd Bank and Yes Bank.
3. Documents required to open the account – two sets self-attested copies of:
a. PAN Card
b. Passport:
i. In case of Indian Passport holders – first page, last page & latest immigration stamp page
ii. In case of Foreign Passport holders – first page & latest immigration stamp page
c. Valid Visa (in case of Indian Passport holders)
d. PIO / OCI Card (in case of Foreign Passport holders)
e. Proof of Address – any one from:
i. Valid Drivers’ license
ii. Utility bill (not more than 2 months old)
iii. Overseas bank statement (not more than 2 months old)
4. Contact the company’s registrar and global custodian for conversion of depository receipt to equity shares.
5. After conversion, get the equity shares transferred to NRE-DR type account.
6. Then report the shares under NRE PIS ledger maintained with AD Bank.
7. We are ready to sell the shares!
8. Post selling the shares, the proceeds will be deposited to NRE PIS account after deducting withholding tax.
9. The net sales proceeds can be repatriated outside India.
What we can do for you?
We will:
- Engage a banker to open and maintain your NRE Savings and NRE PIS bank accounts
- Engage with a Global Custodian and Company for conversion of depository receipt to equity shares
- Open a demat and brokerage account for execution of trades
- Regularly monitor your Portfolio
- Engage a tax consultant to take care of compliance