- Voting Rights . Lesser Voting rights
- Tata Motors - DVRs has 1/10 of voting rights of regular share
- Jain Irrigation - DVRs has 1/10 of voting rights of regular share
- Dividend - Might be more for DVR shares
- TataMotors - 5% extra for DVR
- Jain Irrigation - Same level of dividend
- Market Price
- TataMotors - DVR discounted between 20% to 45% historically . Refer to Picture 1
- Jain Irrigation - DVR discounted between 25% to 45% historically Refer to Picture 2
- Internationally discount is around 10%. Needs to be substantiated .
- Dividend Yield
- Due to #2 and #3 , dividend yield for DVR shares is substantial higher .
- Tata Motors : 40% - 136% more yield for DVR
- Jain Irrigation : 34% - 103% more yield for DVR