Dear All,
Pl confirm whether any change in pricing of GDR ie based on 2 weeks rate prior to board meeting to approve the GDR issue (F.No.9/8/2006-ECB dt 27/11/2008)
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Pricing Of GDR
Replies (1)
No there is no change after F.No.9/8/2006-ECB dt 27/11/2008 clarification. You may please go ahead.
Pricing:
“Clause 5 (4)(D) The issue price – subject to the following:
Listed Companies – The pricing should not be less than the average of the weekly high and low of the closing prices of the related shares quoted on the stock exchange during the two weeks preceding the relevant date;
The “relevant date” means date of the meeting in which the Board of the company or the Committee of Directors duly authorized by the Board of the company decides to open the proposed issue.”
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