FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF ANY FOREIGN SECURITY) REGULATIONS, 2000Foreign Exchange Management (Transfer Or Issue of Any Foreign Security) Regulations, 2000
FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF ANY FOREIGN SECURITY) REGULATIONS, 2000Foreign Exchange Management (Transfer Or Issue of Any Foreign Security) Regulations, 2000
Foreign Currency Convertible Bonds issuance subject to prescribed eligibility, structural, cost, use-of-proceeds, and reporting requirements. Schedule II establishes an automatic-route regime for FCCB issuance requiring conformity with Foreign Direct Investment policy and Reserve Bank rules; ... Summary
Foreign Currency Convertible Bonds issuance subject to prescribed eligibility, structural, cost, use-of-proceeds, and reporting requirements.
Schedule II establishes an automatic-route regime for FCCB issuance requiring conformity with Foreign Direct Investment policy and Reserve Bank rules; permitting public issues through reputable lead managers or private placements only with specified recognised institutional or qualifying foreign equity investors; prohibiting warrants and unrecognised-source placements; imposing a minimum maturity before early exercise; restricting use of proceeds (excluding stock market investment) and allowing limited retention abroad for import or capital expenditure with Reserve Bank approval; prescribing all-in-cost components and caps on issue expenses; and mandating post-issue reporting to the Reserve Bank with investor and repatriation details.
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