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of <h1>RBI Amends Foreign Exchange Regulations: New Pricing Rules for Securities Issued to Non-Residents Effective April 2010.</h1> The Reserve Bank of India issued amendments to the Foreign Exchange Management Regulations concerning the transfer or issuance of securities by persons residing outside India. Effective from April 7, 2010, these amendments modify the pricing guidelines for shares offered to non-residents. For listed companies, the price is determined by the company, while for unlisted companies, it must not be less than the price offered to resident shareholders. Additionally, the issue price for shares to non-residents must adhere to SEBI guidelines or be based on fair valuation by a SEBI-registered merchant banker or chartered accountant, depending on the company's listing status.
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