Indian ADR Stocks List (2026): Full List of Indian Companies Listed in the US

Key Highlights There are 8 actively traded India-linked companies on US exchanges in 2026. 6 of these are traded on the NYSE, while two trade on NASDAQ. ADRs allow US investors to invest in Indian companies. This is done without buying shares on Indian exchanges. Indian investors can invest in ADRs with LRS.  This is a good option for NRIs staying out of the country and looking for a broader portfolio creation.

American Depositary Receipts (ADRs) have helped Indian companies to build a presence in the US market. This allows the US investors to invest without actually buying the shares of the company.

As of now, there are 8 actively traded India-linked companies. These are listed on the NYSE and NASDAQ. Investors can easily invest in the top companies in the pharma, banks, and technical sectors. The top ones include Infosys, ICICI Bank, HDFC Bank, Wipro, and Dr. Reddy's Laboratories. On the other hand, MakeMyTrip is a direct overseas listing rather than a traditional ADR.

This guide shares all the details on the ADRs and what makes them better.

What Is an ADR?

An American Depositary Receipt (ADR) is a financial instrument. It is a negotiable certificate issued by a US depositary bank. This represents shares of a foreign company. The actual shares remain with a custodian in the company's home country, while investors trade the ADR on US exchanges in US dollars.

Some important features of ADRs include:

• They trade in USD on the NYSE or NASDAQ.

• Investors receive dividends in USD after currency conversion.

• Each ADR represents a fixed number of underlying shares, known as the ADR ratio.

• ADR prices may differ from the domestic share price because of exchange rates, market timing, and investor demand.

• Voting rights are generally exercised through the depositary bank rather than directly by ADR holders.

Full List of Indian ADR Stocks Listed in the US (2026)

Note: MakeMyTrip is not technically an ADR. It is a direct overseas listing because the company is incorporated in Mauritius. However, it is often grouped with Indian-listed companies on US exchanges due to its primary business operations in India.

Which Indian ADRs Have Been Delisted?

There are many companies whose ADRs have been delisted over the years. While there are many reasons behind these, mostly it is linked to regulations. The ones that you should know are as follows:

1. Tata Motors (TTM)

• Delisted from the NYSE on 23 January 2023

• Continues to trade on the NSE and BSE

• Delisted because US trading volumes were relatively low

2. Tata Communications

• Delisted from the NYSE in 2013

• The primary reason was low ADR trading volumes and compliance costs

3. Freshworks (FRSH)

Freshworks is often mistaken for an Indian ADR because it was founded in India. However, it is not an ADR. It is a direct US-listed company following its corporate restructuring and overseas incorporation.

Should Indian Investors Buy ADR Stocks?

Indian residents can invest in ADRs through overseas brokerage accounts under the RBI Liberalised Remittance Scheme (LRS).  But there are certain costs and factors that you should know. Also, investing directly in NSE or BSE is a better choice.

ADRs may be suitable for:

• US investors seeking exposure to Indian companies.

• Investors comparing valuations between the US and Indian stock markets.

• Investors with an existing US portfolio who want India exposure without opening an Indian brokerage account.

For Indian investors, buying domestic shares often avoids:

• Currency conversion costs.

• International brokerage charges.

• Additional paperwork.

• Price premiums or discounts sometimes exist between ADRs and Indian shares.

Conclusion

Indian ADRs provide international investors with convenient access to some of India's largest companies across banking, IT, pharmaceuticals, and business services. This is a great option for global investors to broaden their portfolio. Also, it allows Indian companies to increase their reach across the globe.

But as a trader who wants to invest in these companies, you would need proper support and guidance. This is where opening a demat and trading account with Rupeezy can help you. This will allow you to build your long-term investing plan easily.

FAQs

1. What is the ADR ratio?

The ADR ratio is the value that shows the number of equity shares represented by one ADR. 

2. Which Indian company ADR was first listed in the US?

Infosys was the first company to register its ADR. It was in March 1999, and it registered on NASDAQ. Post that, it also got registered on the NYSE.

3. Why did Tata Motors delist its ADR?

Tata Motors voluntarily delisted its NYSE ADR in January 2023. This was due to the lower US trading volumes as compared to the domestic market.

4. Can Indian investors buy ADR stocks?

Yes. Indian residents can invest in ADRs through overseas brokerage accounts under the RBI's Liberalised Remittance Scheme (LRS), subject to the applicable remittance limits.

5. Do ADR holders receive dividends?

Yes. Dividends declared by the underlying company are converted into US dollars and paid to ADR holders after applicable taxes and fees.

6. Why is MakeMyTrip included if it is not an ADR?

MakeMyTrip is incorporated in Mauritius and trades directly on NASDAQ rather than through a depositary receipt. It is commonly included because its primary business is focused on the Indian market.

7. How many Indian ADR stocks are listed in the US in 2026?

As of 2026, there are 8 listed Indian ADRs in the US stock market.