PRESS RELEASE
Disclosures for an offer document for issue of Indian Depository Receipts
Companies (Issue of Indian Depository Receipt) Rules, 2004 were notified by the Government of India on February 20, 2004 to enable foreign issuers to raise funds from the Indian Financial Markets in the form of Indian Depository Receipts (IDRs). The disclosure requirements are to be laid down by SEBI for IDR issuers as per these rules.
In this regard, suggested disclosure requirements have been put for public comments on our website www.sebi.gov.in under the head "SUGGESTED DISCLOSURES FOR AN OFFER DOCUMENT FOR ISSUE OF INDIAN DEPOSITORY RECEIPTS (IDRs)" in the sub-section "Reports for Public Comments" in section "Reports/Documents". The same would be placed for a period of 21 days i.e. from July 29, 2004 to August 19, 2004.
Comments/suggestions on the disclosure requirements may be sent to Shri Parag Basu Deputy General Manager, Division of Issues and Listing-II, SEBI or to Shri Pradeep Ramakrishnan, Manager, SEBI or emailed to paragb@sebi.gov.in / pradeepr@sebi.gov.in or faxed to 91-22-22045633 on or before August 19, 2004.
Mumbai
July 29, 2004