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The long-anticipated move towards direct listings of securities by Indian public companies in foreign markets has been officially unveiled by India's Finance Minister, Mrs. Nirmala Sitharaman.
This groundbreaking development allows domestic Indian companies to embark on direct listings not only in foreign exchanges but also in the International Financial Services Centre (IFSC) located in Ahmedabad. Direct overseas listings provide Indian companies with access to foreign capital across a range of international exchanges.
Initially, Indian companies will have the opportunity to list on the IFSC, and subsequently, they will gain access to specified foreign jurisdictions, numbering seven or eight.
Traditionally, domestically listed entities seeking overseas listings have relied on American Depository Receipts (ADRs) and Global Depository Receipts (GDRs). Renowned companies like Infosys and Wipro have followed this path.
In fact, some Indian businesses have experienced superior valuations and a broader investor base on the global stage, particularly in the United States.
Given the current upward trajectory of the Indian economy, this significant move is expected to draw increased investments into India. It will enable Indian companies to secure additional growth capital, fostering expansion and innovation in the Indian business landscape
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