tag:blogger.com,1999:blog-3202774368551476669.post6663357222852774588..comments2023-09-15T16:21:31.980+05:30Comments on INDIAN CORPORATE LAW: Minimum Pricing Norms Eased for GDRs/FCCBsUmakanth Varottilhttp://www.blogger.com/profile/12438677982004444359noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3202774368551476669.post-66696526326074012392009-02-16T17:41:00.000+05:302009-02-16T17:41:00.000+05:30"This is creating a strange arbitrage opportunity ..."This is creating a strange arbitrage opportunity to structure deals depending on the nature of the pricing that the three dates throw up" can u please elobrate on the same. what are the structure deals are u talking about? can u also give me a link or book on the depository receipts<BR/>from,<BR/>A student of FinanceAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3202774368551476669.post-50588030854055019512008-12-03T08:21:00.000+05:302008-12-03T08:21:00.000+05:30I received the following pertinent observations fr...I received the following pertinent observations from Rahul Guptan:<BR/><BR/>As usual i think this amendment has created a mismatch between the ADR/GDR/FCCB regime and the preferential allotment regime. If you see the amendment to the DIP guidelines in relation to preferential allotments, the relevant date is still 2 weeks prior to a date 30 days prior to the shareholders meeting. Whereas the ADR/GDR/FCCB regime is linked to the date the Board decides to issue the securities. <BR/><BR/>Also, this is again different from the relevant date used for QIP issuances. The relevent date for QIPs is linked to the date the Board decides to 'open the issue'. <BR/><BR/>This is creating a strange arbitrage opportunity to structure deals depending on the nature of the pricing that the three dates throw up and the view that one takes on the timing of when the Board 'opens an issue' for a QIP or 'decides to issue securities' for a GDR. Clearly a case for an amendment is required to remove the ambiguities. <BR/><BR/>Regards <BR/>RahulUmakanth Varottilhttps://www.blogger.com/profile/12438677982004444359noreply@blogger.com