Issue Structure of the GDR sANDERs

GORILLA OR may be issued for one or more underlying  shares or bonds held with the domestic custodian bank (DCB). GOR~/FCCBs may  e denominated  in any freely convertible foreign’ currency. The ordinary shares underlying the GOR~ and the shares issued upon   conversion of the FCCBs should be denominated only in Indian currency. The following issues would be decided by the issuing company with   he lead-manager to the issue, namely: (a) public or private placement; <b) number of GORs/AORs to be issued; (c) the issue price; (d) the  rate of interest payable on FCCBs; and (e) the conversion price, coupon rate, and the pricing of . the conversion options of the FCCBs.   here would be no lock-in period for GORs ADRs. FCCBs should be denominated in any convertible foreign currency and ordinary shares of   n issuing company should be denominated in Indian rupees. The issued ordinary shares or bonds should be delivered to a DCB who would,   n the terms of agreement, instruct the OOB  issue GORIA OR certificates to non-resident investors against the shares or bonds held by it   DCB  means a banking company that acts as a custodian (or ordinary shares FCCBs of an Indian company, which are issued by it against  ORs/AnRs certificates. ~:GOR may be issued in negotiable  form and may be listed on any international stock exchange for trading outside  india. The  provision of any law relating 10 the issue of CApital by an Indian company would apply in relation to the issue of FCCBs or   ordinary shares of an issuing company and it should obtain the necessary permission or exemption fro~ the appropriate authority, under the  relevant law, in this regard.

reCAPTCHA is required.

Share This