Common use of Conversion Ratio & Conversion Price Clause in Contracts

Conversion Ratio & Conversion Price. The Conversion Ratio for the purposes of IFC II CCDs shall be such that IFC II CCDs will convert into such number of Equity Shares, so as to give IFC II CCDs holders the IFC II Required Return, without IFC being required to pay any amount for such conversion. For avoidance of all doubts, it is further clarified that the conversion price of each such IFC II CCDs shall not be less than the fair value determined in accordance with the pricing guidelines prescribed by the Reserve Bank of India on the date of issuance and allotment of the IFC II CCDs, i.e. INR 1,119.23 (Indian Rupees One Thousand One Hundred and Nineteen and Twenty Three Paisa).

Conversion Ratio & Conversion Price. The Conversion Ratio for the purposes of IFC II III CCDs shall be such that each IFC II CCDs III CCD will convert into such number of Equity Shares, so as to give the IFC II CCDs III CCD holders the IFC II III Required Return, without IFC being required to pay any amount for such conversion. For avoidance of all doubts, it is further clarified that the conversion price of each such IFC II CCDs III CCD shall not be less than the fair value determined in accordance with the pricing guidelines prescribed by the Reserve Bank of India on the date of issuance and allotment of the IFC II III CCDs, i.e. INR 1,119.23 5000 (Indian Rupees One Thousand One Hundred and Nineteen and Twenty Three PaisaFive Thousand).