News

Euro-issues allowed for unlisted companies
The finance ministry has liberalised the euro-issue guidelines, permitting unlisted companies to float issues and withdrawing the end-use restrictions on the use of proceeds. There will also be no time limit on clearances extended to euro-issues. The ministry has retained the provision where the three year criterion is relaxed for companies seeking to fund investment in infrastructure sectors like power, telecom, petroleum exploration, roads and airports. The move to allow unlisted companies to go abroad will open new avenues to access external markets for investable funds.