https://www.taxtmi.com/circulars?id=5277 The scheme permits Indian promoter group companies to issue Foreign Currency Exchangeable Bonds to non residents, exchangeable into equity of a listed Offered Company; issuers must hold the offered shares and meet FDI and market eligibility, subscribers must comply with FDI caps and approvals, proceeds may fund overseas investments or promoter group companies (subject to ECB end use restrictions and prohibitions on Indian capital market or real estate use), pricing follows specified averaging floors, minimum five year maturity, physical share delivery on exchange, and prior RBI approval and ECB reporting are required. en-us Tue, 23 Sep 2008 00:00:00 +0530 Wed, 24 Sep 2008 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5277 The scheme permits Indian promoter group companies to issue Foreign Currency Exchangeable Bonds to non residents, exchangeable into equity of a listed Offered Company; issuers must hold the offered shares and meet FDI and market eligibility, subscribers must comply with FDI caps and approvals, proceeds may fund overseas investments or promoter group companies (subject to ECB end use restrictions and prohibitions on Indian capital market or real estate use), pricing follows specified averaging floors, minimum five year maturity, physical share delivery on exchange, and prior RBI approval and ECB reporting are required. Circulars FEMA Tue, 23 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5277