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A company proposes to re-issue GDRs, which were surrendered by the foreign investors in exchange for local shares
A company proposes to re-issue GDRs, which were surrendered by the foreign investors in exchange for local shares. This has the following implication:
(a) Such issue is not possible
(b) The GDRs can be re-issued to domestic investors only
(c) The reissue would be constituted as a domestic public offer
(d) SEBI’s pricing guideline will apply
(e) Reissue is possible only to the available headroom
(f) Reissue should be a public offer.
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