Discuss the process of listing of GDRs on the Euro MTF.

Listing of GDRs on the Euro MTF will require submission of a prospectus to Luxembourg Stock Exchange (LuxSE). Once your prospectus has been reviewed and approved, your GDR will be listed and admitted to trading. Choose a listing agent: It is not mandatory to appoint a listing agent. Either the issuer itself or a Company acting on its behalf can submit request for approval. Listing requirement: In order to list on the Euro MTF, a security must fulfil the following criteria, among other things: Minimum Capital of ₹ 10,00,000 or equivalent value in other currencies Minimum public free float of 25% Securities should be eligible for clearing and settlement Securities should be freely negotiable and fungible Listing Process: File a prospectus: To begin the listing process, the following documents to be sent on LuxSE A copy of your prospectus Application form Undertaking letter Article of association Existing agreement / Conventions The last three annual financial reports (if published) Prospectus review: A first set of comments on a complete draft prospectus will be sent to you within a maximum period of three business days from the date of receipt of the filed application. Additional comments following submission of an updated draft prospectus will be provided within a maximum of two business days after submission. Final submission: Listing can take place after receipt of the following items: Final version of the prospectus First listing price Fees: All fees are paid to LuxSE and priced in euros. Continuing Obligations: After listing and admission to trading, issuers must fulfil specific reporting obligations. E.g. issuers must file information and scheduled corporate events with LuxSE. LEI code: The LuxSE is obliged to collect a 'Legal Entity Identifier' or LEI Code from any issuer operating on its regulated market and on Multilateral Trading Facility (Euro MTF) & communicate it to the relevant supervisory authorities.