Select Page

EURO ISSUES

a part of glOBalising the Indian economy after 1991, Indian corporates are now permitted to  their securities in, and raise funds from, the   euro markets, TLie two long-term primary instruc of Euro issues are Foreign Currency Bonds (FCCBs) and Global Depository Receipts (GDRs)  n Depository Receipts (ADRs), A FCCB means a bond subscribed by a non-resident fn  currency arid convertible into ordinary shares of  he issuing company in India’ in any  r, wholly or in part, on the basis of any equity related warrants attached to the debt instru-  ,  .GDR ADR means any instrument in the fonn of a depository receipt certificate, by what name  called, created by the Overseas Depository  bank (008) outside INdia and issued to’  1XI’H’C~’Klent investors against me issue of ordinary shares or FCCBs of the issuing company, A  authorised by the issuing company to issue GDRs ADRs against the issue of FCCBs ordinary of the issuing company is known as an ODB,   he scheme facilitating issue of FCCDs and ‘ shares through the GDR ADR mechanism by Indian companies is discussed’ in this  The   important operative guidelines issued by the Govem~tlRI to facilitate liberalise . issues are also covered,

[vfb id=1]

Share This