Exchangeable bond pricing and maturity: pricing tied to RBI all in cost ceiling and physical settlement required before redemption. The scheme requires that interest and foreign currency issue expenses on Foreign Currency Exchangeable Bonds comply with the Reserve Bank's all in cost ceiling. At issuance, the exchange price must be at least the higher of two averages of weekly high low closing prices over specified six month and two week periods before the relevant date (board authorization). Bonds must have a minimum five year maturity; the exchange option is exercisable before redemption and mandates delivery of the offered shares with no cash settlement permitted.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exchangeable bond pricing and maturity: pricing tied to RBI all in cost ceiling and physical settlement required before redemption.
The scheme requires that interest and foreign currency issue expenses on Foreign Currency Exchangeable Bonds comply with the Reserve Bank's all in cost ceiling. At issuance, the exchange price must be at least the higher of two averages of weekly high low closing prices over specified six month and two week periods before the relevant date (board authorization). Bonds must have a minimum five year maturity; the exchange option is exercisable before redemption and mandates delivery of the offered shares with no cash settlement permitted.
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