The Reserve Bank of India has issued new pricing rules for shares being issued or transferred to overseas Indians under the foreign direct investment policy.
According to new rules the price at which the shares are issued or transferred has to be the same as the price as per SEBI guidelines for the allotment, the RBI said in the guidelines put on its website.
Earlier, the minimum price was the same as the existing market price or that worked out by a licensed chartered accountant, the bank said.
If the overseas Indians are transferring shares to local residents the transfer price must not exceed the price at which the overseas Indian got the shares.
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