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Foreign Currency Convertible Bonds (FCCBs): Taking India Inc.to the Global Financial Avenues

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  • Deepak Devgan
  • Harpreet Dusanjh

Abstract

The financial markets of the world have undergone a sea change during the last few decades and the same winds of change have also entered the Indian capital markets. With the advent of liberalization, a variety of new financial instruments are replacing traditional avenues of finance and India Inc. has flown to overseas markets to get finance for expansion and other purposes. Amidst these, a new and popular array of innovative instruments is a type of bonds called Foreign Currency Convertible Bonds (FCCBs) that have provided access to cheaper overseas debt for Indian companies. The paper tries to explore the various dynamics of these innovative bonds that have lured India Inc. Besides, these instruments are also helpful from macro (economy) point of view and strengthens the motive behind the study of these instruments.

Suggested Citation

  • Deepak Devgan & Harpreet Dusanjh, 2008. "Foreign Currency Convertible Bonds (FCCBs): Taking India Inc.to the Global Financial Avenues," The IUP Journal of Financial Economics, IUP Publications, vol. 0(4), pages 86-97, December.
    • Handle: RePEc:icf:icfjfe:v:06:y:2008:i:4:p:86-97
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