Conversion Ratio & Conversion Price. (a) The Conversion Ratio for the purposes of IFC CCDs shall be such that only IFC CCD will convert into such number of Equity Shares, at a price not being less than INR 100 (Indian Rupees One Hundred) per Equity Share, so as to give the IFC CCD holder the IFC Required Return (hereinafter defined), without IFC being required to pay any amount for such conversion.
Appears in 2 contracts
Sources: Shareholders Agreement, Shareholder Agreement (Azure Power Global LTD)