This discussion clarifies the requirements for rights issues to Non-Resident Indian (NRI) shareholders in unlisted Indian companies. It's confirmed that a valuation certificate is not mandatory. However, the issue price for NRI shareholders must be the same as that offered to resident shareholders.
04 November 2022
Please guide if there is a requirement of Valuation certificate in case of Rights Issue to the Non Resident Holder by an Indian company (unlisted company)?