NORMS RELAXED FOR PUBLIC OFFERS FROM INFRASTRUCTURE COS
Article Abstract:
The norms for infrastructure companies coming out with initial public offers have been relaxed by the Securities and Exchange Board of India. They are now exempted from the requirement of announcing a public offer of 25 percent of their securities. This will apply only if their projects are appraised by a developmental financial institution or IDFC or IL&FS. The appraising institute should also take part, either through equity or debt, to the extent of a minimum of 5 percent in the project. The companies can also freely price their offers if the promoters subscribe to 50 percent at the same price. The companies have also been exempted from the creation and maintenance of a Debenture Redemption Reserve. (khr)
Comment:
India: Norms for infrastructure cos coming out with initial public offers have been relaxed by Securities and Exchange Board
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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NORMS FOR EURO, ADR ISSUES RELAXED
Article Abstract:
The rules and regulations for Euro and ADR issues has been relaxed by the government with effect from May 22, 1998. The restrictions on the usage of the proceeds of the ADR and GDR issues have been lifted except for the ban on investing the proceeds in real estate or the stock markets. Unlisted companies can also float Euro and ADR issues if they can meet the three- year track record eligibility criteria. The validity period of 90 days for final approval for GDR and ADR issues is also being removed. (khr)
Comment:
India: Rules & regulations for Euro & ADR issues are relaxed by govt effective 5/22/98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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NORMS FOR SWEAT EQUITY FINALISED
Article Abstract:
The parameters for issuing sweat equity have been finalised by the government. Sweat equity is considered to be crucial in restricting employee turnover in sectors like infotech, drugs and pharmaceuticals. The department of company affairs has proposed that sweat equity be given to employees who have made a substantial intellectual contribution to their companies. The government has decided to leave the ceilings like quantum and time period to the management and shareholders of the companies. (khr)
Comment:
India: Department of co affairs proposes sweat equity be given to employees who have made substantial intellectual contribution
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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