The Finance Ministry has amended Securities Contracts Regulation Rules 1956, facilitating direct listing of securities by public Indian companies on International Exchanges of GIFT Indian Financial System Code.
According to the Finance Ministry, new amendments facilitate easier access to global capital for Indian start-ups and companies in sunrise and technology sectors. This will benefit Indian companies to look for avenues for expanding their presence in other markets. The Ministry issued a gazette notification in this regard yesterday.
As per the rules, the minimum offer and allotment to the public as per the offer document will be at least 10 percent of the post-issue capital for public Indian companies desiring to list solely on international exchanges in IFSC.