Para 5 - Issue structure of the Global Depositary Receipts - Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depositary Receipt Mechanism) Scheme, 1993

Issue structure of the Global Depositary Receipts. 5. (1) A Global Depositary Receipt may be issued for one or more underlying shares or bonds held with the Domestic Custodian Bank. (2) The Foreign Currency Convertible Bonds and Global Depositary Receipts may be denominated in any freely convertible foreign currency. (3) The ordinary shares underlying the Global Depositary Receipts and the shares issued upon conversion of the Foreign Currency Convertible Bonds will be denominated only in Indian currency. (4) The following issues will be decided by the issuing company with the Lead Manager to the issue, namely :— (a) public or private placement; (b) number of Global Depositary Receipts to be issued; (c) the issue price; (d) the rate of interest payable on Foreign Currency Con vertible Bonds; and (e) the conversion price, coupon, and the pricing of the conversion options of the Foreign Currency Convertible Bonds. (5) There would be no lock-in-period for the Global Depositary Receipts issued under this Scheme.