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Strategies & Market Trends : India Coffee House

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To: ratan lal who wrote (5193)	7/19/1999 3:37:00 PM
From: Nandu	Read Replies (1) of 12475

Ratan, INFY is the first ADR. So, the mechanism for converting shares bought in India into ADRs might be obscure and not known to many. Obviously, it is not known to us. Also, India has restrictions on currency conversion. It shouldn't generally be possible to buy shares for rupees and then sell them for dollars. However, I am under the impression that NRIs are allowed to buy shares in India using dollars and then repatriate proceeds from selling those shares as dollars.

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