News & Media 25th Jan 2024

Govt allows direct listing at IFSC to enable local cos raise global capital

Authors

Manendra Singh Partner | Mumbai

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The government on Wednesday, January 24, permitted the direct listing of Indian companies on the Gujarat International Finance Tec’s (GIFT’s) international exchanges to boost foreign investments. The Ministry of Finance issued a notification, amending the Foreign Exchange Management Act (FEMA) to permit the listing on the international exchanges in the International Financial Services Centre (IFSC). The corresponding provision to enable listing has also been made to the Companies Act.

Khushboo Tiwari from Business Standard writes on “Govt allows direct listing at IFSC to enable local cos raise global capital” with expert comments from our Partner Manendra Singh.

Manendra says, “The rules allow Indian public companies to offer their equity shares as a fresh subscription and also allow shareholders of such companies to offer their equity shares (OFS) as modes of listing”.

For more details, please read the article here

The story has also been published in Economic Times & Hindu Businessline as well