Market structure DVR

DVR shares on Kite

From WebNotes, a public knowledge base. Last updated . Reading time ~2 min.

DVR (Differential Voting Rights) shares carry different voting power per share compared to common equity. Companies issue DVR shares to raise capital without diluting voting control. Listed DVR shares carry a suffix on the symbol.

Examples (historical):

  • TATAMTRDVR (Tata Motors DVR).
  • Other Tata-group DVR issues.

Trading on Kite

AspectDVR
SymbolUnderlying + “DVR” suffix
SettlementSame as common equity (T+1)
Tax treatmentEquity rules (LTCG / STCG)
LiquidityGenerally lower than common

Why DVRs trade at a discount

DVR shares typically trade at 20-40% discount to common equity:

  • Lower voting power = less corporate control value.
  • Lower liquidity premium.
  • Limited demand from voting-rights-sensitive investors.

On Kite

Search the DVR symbol; appears with appropriate exchange tag. Standard order types apply.

See also

External references

References

  1. SEBI, DVR shares framework, sebi.gov.in.
  2. NSE / BSE, DVR listings, exchange websites.

Related articles

  • BSE Sensex options trading hours

    Trading hours for BSE Sensex and Bankex options including weekly and monthly expiry sessions. Explains the BFO segment hours and the …

  • Block deal vs bulk deal on Zerodha

    Block deals (large negotiated trades in a special window) vs bulk deals (large open-market trades exceeding threshold). Explains the …

  • Circuit filters on NSE and BSE

    Circuit filters (price bands) on NSE and BSE limit daily price movement for individual scrips and indices. Explains the 2%, 5%, 10%, 20% …

  • Circuit limits / price bands

    Circuit limits (price bands) cap a scrip's daily price movement at 2%, 5%, 10%, or 20%. Explains the framework and trader impact. …

  • EGRs (Electronic Gold Receipts) on Zerodha

    Electronic Gold Receipts (EGRs) are gold-backed instruments tradable on NSE / BSE. Explains the framework and how Zerodha clients can access …

  • Exchange margin types (SPAN, ELM, Adhoc, VAR)

    The four main exchange margin types in India: SPAN (Standard Portfolio Analysis of Risk), ELM (Extreme Loss Margin), Adhoc margin, and VAR …

Reviewed and published by

WebNotes Editorial Team

The WebNotes Editorial Team covers Indian capital markets, payments infrastructure and retail investor procedures. Every article is fact-checked against primary sources, principally SEBI circulars and master directions, NPCI specifications and the official support documentation published by the intermediary in question. Drafts go through a second-pair-of-eyes review and a separate compliance read before publication, and revisions are tracked against the SEBI and NPCI rule changes referenced in the methodology section.

Last reviewed
Conflicts of interest
WebNotes is independent. No relationship with any broker, registrar or bank named in this article.