NEW DELHI: Government on Wednesday allowed the Indian corporations to record immediately on worldwide exchanges in GIFT City, paving the way in which for these entities to faucet a wider pool of traders.
The transfer, which was introduced by finance minister Nirmala Sitharaman, required the federal government to inform the modifications. Ministry of company affairs and division of financial affairs (DEA) have issued two units of guidelines.”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 mentioned in an announcement.
The initiative will enhance overseas funding flows, unlock development alternatives and broaden the investor base for Indian corporations, it added.
While the Companies Act had offered for direct abroad itemizing of shares a number of years in the past, the income division and DEA had failed to maneuver forward with the modifications till final 12 months.
The transfer, which was introduced by finance minister Nirmala Sitharaman, required the federal government to inform the modifications. Ministry of company affairs and division of financial affairs (DEA) have issued two units of guidelines.”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 mentioned in an announcement.
The initiative will enhance overseas funding flows, unlock development alternatives and broaden the investor base for Indian corporations, it added.
While the Companies Act had offered for direct abroad itemizing of shares a number of years in the past, the income division and DEA had failed to maneuver forward with the modifications till final 12 months.
