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Share transfer to r to nr-gap in issue price vs fair value

This query is : Resolved 
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04 November 2015 as per the RBI circular "Price of shares issued to persons resident outside India under this Schedule, shall not be less than- the fair valuation of shares done by a SEBI registered Category - I Merchant Banker or a Chartered Accountant as per the discounted free cash flow method, where the shares of the company is not listed on any recognised stock exchange in India "
i want to know what can be the maximum gap between issue price of shares against share price as per DCF method. for ex. if issue price is 40 which is 10 face value +30 preimum then as per DCF method if its coming 35 or 32 then its ok for certication?
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Amol S Joglekar

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Amol S Joglekar (Expert)
06 November 2015 yes, as per DCF if it is coming less than 40, no issues. You can certify accordingly.
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