Securities and Exchange Board of India (SEBI) said on Tuesday it has simplified the listing agreement for Indian Depository Receipts (IDRs).
"In order to reduce the additional regulatory or cost burden to the issuers, it has been decided to simplify the listing requirements applicable to the issuers from the countries which are the signatories of Multilateral Memorandum of Understanding (MMOU) of International Organization of Securities Commissions (IOSCO)," the Indian regulator said on its website.
(URL:http://www.sebi.gov.in)
SEBI has drafted a model listing agreement for IDR issuers with registered office in a country where the securities markets regulator is a signatory to MMOU of IOSCO, it said.
The issuer is allowed to follow the home country requirements provided equitable treatment is given to the IDR holders vis-a--vis holders of equity shares, it added.
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