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of <h1>Govt Amends 1993 Scheme: Companies Can Offer Shares Domestically & via ADR/GDR Within 30 Days; SEBI Approval Needed.</h1> The Central Government has amended the Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993, effective from the notification date. The amendment introduces a new provision, 5(4)(cc), allowing companies to offer shares in both the domestic market and through ADR/GDR issues within 30 days of the domestic issue. If the ADR/GDRs are priced at or above the domestic price, these companies are exempt from certain previous requirements. However, they must obtain approval from SEBI, which will determine the percentage of shares to be offered in each market.
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