Direct listing of listed and unlisted firms now allowed on overseas exchanges, says Nirmala Sitharaman
The Hindu
The Central government has decided to allow direct listing of listed and unlisted companies on the IFSC exchanges. The announcement was made by Finance Minister Nirmala Sitharaman on July 28 in Mumbai.
The Central government has decided for enablement of direct listing of listed and unlisted companies on the IFSC exchanges. The announcement was made by Union Finance & Corporate Affairs Minister Nirmala Sitharaman on July 28 in Mumbai.
“I had said in May 2020 that direct listing of securities by Indian public companies would be permissible in foreign jurisdictions,” she said.
“Now, I am pleased to announce that government has taken a decision to enable direct listing of listed and unlisted companies on the IFSC exchanges. This will facilitate access to global capital and result in better valuation for Indian companies,” she added.
Earlier in the day, the Finance Minister had inaugurated the AMC Repo Clearing Ltd. (ARCL) and the Corporate Debt Market Development Fund (CDMDF) for the development of the Corporate Bond Market in India.
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