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France to India · Valuation

Valuing shares issued to or bought from a French parent

CA Utsav Dogra, Chartered Accountant, ICAI M. No. 542375 · Updated

In brief

Shares issued to a French investor may not be priced below fair value, and when a resident buys shares from that investor the price may not exceed fair value. Fair value uses an internationally accepted method, certified by a Chartered Accountant, a SEBI-registered merchant banker or a registered valuer depending on the case.

What is specific to French companies

The French parent's own valuation for its accounts is separate from the FEMA certificate.

Our services

How SU and Company helps

We review ownership chains and set up the investment route that fits them.

  • Ownership and look-through analysis
  • Choice of direct or holding-company route
  • FEMA filings for NRI- or resident-linked structures
  • Treaty eligibility documentation on the Indian side
Send a queryFEMA and RBI reporting

Questions

Is a valuation needed at incorporation?

Subscription to the memorandum at face value on incorporation does not need a valuation. Later issues do.

General information as at 5 November 2026, not advice for a particular case. Indian and French rules change often; confirm the current position before acting. French law points should be confirmed with a French adviser.

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