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of <h1>Indian Firms Can Raise Foreign Capital Without Indian Listing for 2 Years Under Amended 1993 Scheme</h1> The Central Government has amended the Foreign Currency Convertible Bonds and Ordinary Shares (Through Depositary Receipt Mechanism) Scheme, 1993, effective from the notification date. The amendment allows unlisted Indian companies to raise capital abroad without requiring prior or subsequent listing in Indian stock exchanges for two years. These companies can list only on exchanges in jurisdictions compliant with IOSCO/FATF or those with bilateral agreements with SRBI. They must submit returns to SEBI, comply with FDI policies, and can use the raised capital for overseas debt or operations. Unutilized funds abroad must be returned to India within 15 days for domestic use in RBI-recognized banks.
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