Govt allows direct listing of Indian cos on international exchanges of GIFT IFSC
Also, the Ministry of Corporate Affairs (MCA) has issued Companies (Listing of Equity Shares in Permissible Jurisdictions) Rules, 2024.
On July 28 last year, Finance Minister Nirmala Sitharaman made an announcement regarding the direct listing of Indian Companies at GIFT- IFSC exchanges in the first phase.
“These, together, provide an overarching regulatory framework to enable public Indian companies to issue and list their shares in permitted international exchanges,” the finance ministry said in a statement.
It further said the initiative will boost foreign investment flows, unlock growth opportunities and broaden the investor base for Indian companies.
As of now, the framework allows unlisted public Indian companies to list their shares on an international exchange.
Discover the stories of your interest
The Securities and Exchange Board of India (Sebi) is in the process of issuing operational guidelines for listed public Indian companies. International stock exchanges at GIFT-IFSC – India International Exchange and NSE International Exchange have been, currently, prescribed as permitted stock exchanges.
These exchanges are under the regulatory supervision of the International Financial Services Centres Authority (IFSCA). PTI DP NKD CS NKD BAL BAL BAL
Also, the Ministry of Corporate Affairs (MCA) has issued Companies (Listing of Equity Shares in Permissible Jurisdictions) Rules, 2024.
On July 28 last year, Finance Minister Nirmala Sitharaman made an announcement regarding the direct listing of Indian Companies at GIFT- IFSC exchanges in the first phase.
“These, together, provide an overarching regulatory framework to enable public Indian companies to issue and list their shares in permitted international exchanges,” the finance ministry said in a statement.
It further said the initiative will boost foreign investment flows, unlock growth opportunities and broaden the investor base for Indian companies.
As of now, the framework allows unlisted public Indian companies to list their shares on an international exchange.
Discover the stories of your interest
The Securities and Exchange Board of India (Sebi) is in the process of issuing operational guidelines for listed public Indian companies. International stock exchanges at GIFT-IFSC – India International Exchange and NSE International Exchange have been, currently, prescribed as permitted stock exchanges.
These exchanges are under the regulatory supervision of the International Financial Services Centres Authority (IFSCA). PTI DP NKD CS NKD BAL BAL BAL