Issue to nri

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 February 2016 In case of right issue, can after renunciation, shares b issued to Nri at price higher than right issue and to others at right issue price.

CS Divesh Goyal

CS Divesh Goyal (Expert)
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12 February 2016 You can issue shares to NRI renunciation. But price of the shares will be the same price on which you have offered to existing shareholders.
Because its renunciation from shareholder to shareholder then how company can increase the price, company dont have the authority for the same.

If you wanna to issue shares to NRI on high price then go through private placement .