Capital Markets of India: An Investor's Guide

436 Pages·2007·2.18 MB·English

by  Alan R. Kanuk

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Capital Markets
of India
An Investor’s Guide
ALAN R. KANUK
John Wiley & Sons, Inc.
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Capital Markets
of India
i
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Capital Markets
of India
An Investor’s Guide
ALAN R. KANUK
John Wiley & Sons, Inc.
iii
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Copyright(cid:2)C 2007byAlanR.Kanuk.Allrightsreserved.
PublishedbyJohnWiley&Sons,Inc.,Hoboken,NewJersey.
PublishedsimultaneouslyinCanada.
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LibraryofCongressCataloging-in-PublicationData:
Kanuk,AlanR.
CapitalmarketsofIndia:aninvestor’sguide/AlanR.Kanuk.
p.cm.—(Wileyfinanceseries)
“PublishedsimultaneouslyinCanada.”
Includesbibliographicalreferencesandindex.
ISBN978-0-470-13763-5(cloth)
1.Capitalmarket–India. 2.Stockexchanges–India. I.Title.
HG5732.K362007
332(cid:3).04150954—dc22
2007003314
PrintedintheUnitedStatesofAmerica
10 9 8 7 6 5 4 3 2 1
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To my wonderful wife, Jaqui,
whose love and support are a neverending source of
great energy and inspiration for me.
And
to Max and Sarah,
my two spectacular children,
who give me the greatest joy and a constant smile.
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Contents
ListofFigures xi
ListofTables xiii
Preface xvii
Acknowledgments xxiii
AbouttheAuthor xxvii
CHAPTER1
India’sCapitalMarkets 1
GrowthofForeignInvestment 1
ImprovedFIIInterestandAccesstothePublicMarkets 5
RisingDomesticInvestmentDemand 9
MarketRisks 11
Summary 17
CHAPTER2
ForeignPortfolioInvestmentinIndia 19
ForeignInvestment 20
TaxConsiderationsforFIIs 26
RepatriationofInvestmentFunds 29
ChallengesforU.S.HedgeFundFIIs 29
FinancialInstrumentsAvailabletoFIIs 33
InvestmentLimits 48
BrokerageFees 51
FIIApplicationProcedures 52
TradingandSettlement-RelatedIssues 56
SummaryofFIIInvestment 56
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