Now, Indian cos can go for direct overseas listing

Mumbai: Finance Minister Nirmala Sitharaman on Friday said domestic companies can now go in for direct listing on foreign exchanges and the International Financial Services Centre (IFSC) in Ahmedabad.

The provisions for direct overseas listing were approved by the government, as part of the Covid relief package announced in May 2020, but the rules in this regard are yet to be notified.

The direct overseas listing will allow Indian companies to access foreign funds on various exchanges overseas. “A direct listing of securities by domestic companies will now be permissible in foreign jurisdictions. I’m also pleased to announce that the government has taken a decision to enable the direct listing of listed and unlisted companies on the IFSC exchanges,” Sitharmanan said.