for Issue of.Convertible Bonds or Ordinary Shares of Issuing Company

company desirous of raising funds by issuing FCCBs or ordinary shares for equity issues  GDR ADR is required to Obtain the  prior permission’ of the Department of Economic Ministry of Finance, Government of India. It may sponsor an issue of ADRS GDRS.o; with   n depository against shares held by its shareholders, at a price .dfl mined by the lead ‘with’respect to disinvestment of their holdings by.  shareholders of Indian companies that  ed in India, (in not listed in India, but listed overseas, Such a facility would be available to all  categories of shareholders of the company whose shares are being sold in the market overseas, An approved intermediary under  he scheme would be an investment” registered with the Securities ‘and Exchange Commission in the US, or under the Financial   Authority n UK, or ,the appropriate regulatory authority in Germany,

. France, Singapore or  such issues would need to conform to the foreign direct  Investment policy and other The issuing company seeking Permission from the Government should have a consistent track  record of good   performance (financial or otherwise) for a minimum period of three years, on the basis of which an approval for finalising the issue structure   could be issued to the company. On finalising the issue structure in consultation with the lead manager to the issue, the issuing company   should obtain the final approval from the Government for proceeding ahead with the issue. The requirements included in the issue structure  re discussed below.

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