ADRs trading at a premium?

Hi
Why certain ADRs of the indian shares are traded at a premium when compared to local listing and others not? For instance market cap of wipro is ₹1.28T in nse but that of WIT (ADR) is ₹1.75T taking $/₹ as 60. But that of infosys is same for both ₹1.8T. Thanks

My guess is that it is not absolute necessary for a countries to have same market cap in two exchanges. even nse and bse prices differs. I think its upto the (foreign) bank who values the company them self before listing them on NYSE or other exchange..

Thanks Einstein. Yes it may not be necessary but shouldn't both reach a balance given time? Wipro is trading @ nearly 40% premium in ADR thats far too much compared with difference between bse and nse where it is in few paise per share

Need to analyse company's financial documents on both the exchanges to give you proper feedback.