Mumbai: Indian stock market controller, SEBI has allowed all capitalists to submit an application for Indian Depositary Receipts (IDRs), an instrument through which overseas companies can lift funds in the domestic market.

SEBI has also decreased its minimum application value to Rs 20,000 from Rs 200,000.

IDRs are just like Global or American Depositary Receipts (ADRs).

SEBI made such alterations to permit all classes of capitalists to apply for IDRs, with around 50% of the issue being subscribed by institutional investors.

Thus far, only institutional investors were granted to apply for Indian Depositary Receipts.

Sebi has also permitted listed companies to lift capital via fast track issues, which can be made through follow-on and rights issues.

Fast track issues would facilitate companies to lift funds from investors with fast regulatory commendations, cutting down time necessitated to raise funds.

The eligibility condition for this consist of minimum market capitalisation of public holding, trading turnover, track record of compliance with listing requirements and investor grievance redressal, it added.