23 Jul 2026
The quiet death of ADRs: Why investors no longer need Wall Street’s window into India
10 Apr 2026
10 Apr 2026
This is a link-enhanced version of an article that first appeared in Live Mint
Article Overview:
The article explains that American Depositary Receipts (ADRs) are steadily losing relevance as regulatory reforms, deeper domestic liquidity, and easier Foreign Portfolio Investor (FPI) access have shifted price discovery to Indian markets, enabling global investors to participate directly onshore. While fragmented KYC norms and rigid capital controls previously made US depositary receipts necessary as liquidity bridges, ongoing regulatory simplification has significantly reduced their importance for foreign investors accessing Indian equities.
Our Partner, Anubhav Ghosh, Financial Regulatory, shared his perspective. Here’s what he had to say:
“For decades, fragmented KYC norms and rigid capital controls made US depositary receipts necessary as liquidity bridges”
Download PDF
Deal: Trilegal advised Varthana Finance’s institutional investors on their proposed exit, as a part of Home Credit India Finance’s proposed INR 967 crore acquisition of Varthana Finance
Deal: Trilegal advised on Belrise Industries’ INR 17,000 million QIP
Meta ‘mistakenly’ blocked CJP spokesperson’s WhatsApp account amid content-blocking allegations
Under the rules of the Bar Council of India, Trilegal is prohibited from soliciting work or advertising in any form or manner. By accessing this website, www.trilegal.com, you acknowledge that:
We prioritize your privacy. Before proceeding, we encourage you to read our privacy policy, which outlines the below, and terms of use to understand how we handle your data:
For more information, please read our terms of use and our privacy policy.
