India changes pricing rules for share transfers to NRIs
MUMBAI: India has changed the pricing
rules for shares being issued or transferred to overseas Indians under
the
foreign direct investment policy, the central bank said late on Tuesday.
The price at which the shares are issued or transferred
should be at
least the same as the price as per SEBI guidelines for the allotment,
the
Reserve Bank of India said on its website. Previously, the minimum price
was
equal to the existing market price or that worked out by a licensed
chartered
accountant, the bank added.
In case overseas Indians are
transferring shares to local residents, the transfer price should not
exceed the
price at which the overseas Indian got the shares.
Source:- The Economic Times
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