An American Depositary Receipt (ADR) is a financial instrument that represents shares of a foreign company but is traded on U.S. stock exchanges. It allows investors to invest in international companies without directly dealing with foreign markets or currencies.

Each ADR represents one or more shares of a foreign company and is priced in U.S. dollars. These are issued by U.S. banks, which hold the actual shares on behalf of investors. ADRs make it easier for companies to raise money from global investors and for investors to diversify internationally.

Infosys is a well-known example of an Indian company with ADRs. It listed its ADRs on the New York Stock Exchange (NYSE) under the ticker INFY. This allowed U.S. and global investors to invest in Infosys easily without trading on Indian exchanges.

The success of Infosys ADRs encouraged other Indian companies like Wipro and ICICI Bank to also access U.S. markets through ADR listings.

Selfridges
U.S. capital markets