ADR(American Depository Receipt)

Information about American Depository Receipt

ADR(American Depository Receipt)

General Information

Local Listing

Name & Address of the Stock ExchangeAddressStock Code
Bombay Stock Exchange (BSE) LimitedPhirozeJeejebhoy Towers, Dalal Street, Fort. Mumbai-400023500180
The National Stock ExchangeExchange Plaza, 5th Floor, Bandra Kurla Complex. Bandra (E). Mumvai -400051HDFCBANK

Names of depositories in India for dematerialization of equity shares (ISIN No. INE040A01034)

  National Securities Depository Limited (NSDL)

  Central Depository Services Limited (CDSL)

International Listing

Name & Address of the Stock ExchangeAddressStock Code
American Depository Shares (ADS) CUSIP No.40415F101The New York Stock Exchange, 11 Wall Street, New York , NY1005HDB
NYSE Ticker SymbolHDB.US
Trading PlatformNYSE
Ratio ADR: Ordinary Share1:3
LevelLevel III
Sponsored / UnsponsoredSponsored
CustodianJP Morgan Chase Bank N.A. Mumbai Branch
Depository BankJP Morgan Chase Bank N.A., New York


J P Morgan Chase Bank, N.A. 4, New York Plaza, 12th Floor, New York, NY 10004JP Morgan Chase Bank N.A. – Mumbai Branch
Paradigm Towers, B Wing, 6th floor
Mindspace, Malad West, Mumbai


What is an ADR and ADS ?

An American Depository Receipt ("ADR") is a physical certificate evidencing ownership of American Depositary Shares ("ADSs"). The term is often used to refer to the ADSs themselves.
An American Depositary Share ("ADS") is a U.S. dollar denominated form of equity ownership in a non-U.S. company. It represents the foreign shares of the company held on deposit by a custodian bank in the company's home country and carries the corporate and economic rights of the foreign shares, subject to the terms specified on the ADR certificate.
One or several ADSs can be represented by a physical ADR certificate. The terms ADR and ADS are often used interchangeably.
ADSs provide U.S. investors a convenient way to invest in overseas securities and to trade non-U.S. securities in the U.S. ADSs are issued by a depositary bank, such as JPMorgan Chase & Co. They are traded in the same manner as shares in U.S. companies, on the New York Stock Exchange ("NYSE") and the American Stock Exchange ("AMEX") or quoted on NASDAQ and the over-the-counter ("OTC") market.
Although ADSs are U.S. dollar denominated securities and pay dividends in U.S. dollars, they do not eliminate the currency risks associated with an investment in a non-U.S. company.

What are the benefits of holding ADRs?

ADRs eliminate many of the obstacles of holding non-U.S. securities since they trade and settle according to U.S. market practices. They are quoted and traded and pay dividends in dollars. They eliminate custodian safekeeping charges in the issuer's home country and facilitate prompt dividend payments and corporate action notifications.

What is the ratio of HDFC Bank’s ADRs to an ordinary share?

HDFC Bank has a ratio of 1 ADR:3 Ordinary Shares. Each ADR is backed by a specific number of the issuer's local shares or a fraction thereof. This is called the ADR ratio, which is designed to set the price of each ADR in U.S. dollars in a price range competitive to the share price of the issuer's U.S. peer group.

Who is HDFC Bank’s ADR depositary bank?

J.P. Morgan Chase Bank N.A. is the depositary bank for HDFC Bank. HDFC Bank ADRs are backed by registered shares held under custody in India in JPMorgan's name on behalf of HDFC Bank ADR holders. As the depositary bank, JPMorgan performs the roles of registrar, transfer agent, record keeper and dividend paying agent. 

How can I hold HDFC Bank ADRs?

There are two ways to hold ADRs. Either through your usual bank or broker, in which case you are a "beneficial holder". Alternatively, directly through JPMorgan Chase Bank as ADR depositary, in which case you are a "registered holder". You are then included in the company's ADR holder register that is maintained by HDFC Bank's ADR depositary, JPMorgan. Registered holders of HDFC Bank ADRs may hold their ADRs either physically in the form of a certificate or in dematerialized (book entry) form, evidenced by an account statement.

How can I buy and sell HDFC Bank ADRs?

You can purchase HDFC Bank ADRs through a U.S.-registered stock broker, just as you would purchase U.S. securities.

If you opt to be a registered holder, you may contact JPMorgan Chase Bank, HDFC Bank's ADR depositary bank, at 866 367 6354 (toll-free) or +1 651 453 2128 (from outside the U.S.) or write to:

JP Morgan Chase Bank N.A.
P.O. Box 64504
St Paul, Minnesota 55164-0504

Registered holders of HDFC Bank’s ADRs may conduct transactions online by going to JPMorgan's website | "Investors" and selecting "Access My Account". For account access details please contact JPMorgan.

Where are HDFC Bank ADRs quoted and traded?

HDFC Bank ADRs are listed and quoted on the NYSE under the symbol HDB.

How can I find the ADR price?

You can find the ADR price either on the NYSE website or on J.P. Morgan’s website

How do I receive dividends from my ADRs?

You receive dividends just like you do for any US security you hold.

When was the ADR dividend for financial year 2020-21 distributed?

The ADR dividend for financial year 2020-21 was paid to the ADR holders on August 19, 2021.

Please refer to the attached link on our ADR program and click on dividend to be able to get further information :-

Do I have voting rights through my ADRs at the Annual General Meeting?

No, ADR holders do not have any voting rights on the ADR.

Can I exchange my ADRs in HDFC Bank ordinary shares?

You may cancel your ADRs to receive Indian shares. In order to do so, you must have a specific Indian securities account to receive the same.

The normal procedure is to ask your U.S. broker to cancel the ADRs and deliver the corresponding ordinary shares to your own securities account in India.

As a depositary bank, JPMorgan may charge the broker up to 5 cents per ADR issued or cancelled. The broker may have additional costs for this transaction.