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A GDR is a financial instrument used by private markets to raise capital denominated in either US $ or euros. GDRs are certificates issued by investment bankers to the general public against the issue of shares of some foreign country. GDRs are issued by investment bankers to the general public in more than one country against the issue of shares in a foreign company. The shares held by a foreign bank are traded as domestic shares, but are offered for sale globally through the various bank branches.

Issue of a depository receipt connotes issue of ordinary shares to global investor, by keeping the shares under the custody of a 'Domestic Custodian Bank'.