Participatory notes (PNs / P-Notes) are instruments used by foreign investors that are not registered with the SEBI (Securities & Exchange Board of India) to invest in Indian securities. Participatory notes are instruments that derive their value from an underlying financial instrument such as an equity share (derivative instruments). SEBI permitted FIIs to register and participate in the Indian stock market in 1992.
Indian based brokerages buy Indian-based securities and then issue PNs to foreign investors. Any dividends or capital gains collected from the underlying securities go back to the investors. Continue reading Participatory Notes (P-Notes) For India Foreign Institutional Investors
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Reliance Capital AGM 2009 Presentation by Anil Ambani
Following is the transcript of Anil Ambani presentation during today’s Reliance Capital AGM
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My dear fellow Reliance Capital shareowners,
I am delighted to welcome each one of you to this 23rd Annual General Meeting of our Company. It has been a year of substantial achievements for our company, in the face of one of the toughest global economic downturn ever witnessed in history.
I am delighted to say that we have emerged from the crisis stronger, leaner and even more productive and efficient. We remain one of the most valuable private sector companies in India, and top 3 private sector companies in financial services.
Reliance Capital is today one of India’s fastest growing financial services powerhouses, with well over 17 million customers.
Our customer base, amongst the largest in India in financial services, is spread across 5,000 towns and cities, and served by over 12,000 distribution outlets and over 500,000 business partners. Continue reading Reliance Capital AGM 2009 Presentation by Anil Ambani