Expecting direct listing of cos in GIFT City by April 2024: IFSCA chief

Source: Business Standard

The International Financial Services Centres Authority (IFSCA) is expecting notifications from the Finance Ministry and certain amendments from other regulators to facilitate direct listing of Indian companies on the exchanges operating out of the GIFT City.

The IFSCA chairperson indicated a timeline of April 2024 for domestic companies to start the listing process at the IFSC.

“We are trying to initiate it in a few months. Some rules to be notified from the finance ministry are expected. Similarly, the Reserve Bank of India (RBI) may issue some rules on overseas investment regulations. The Securities and Exchange Board of India (Sebi) too will need to amend norms to allow already listed companies to list there (at IFSC),” said chairperson K Rajaraman on the sidelines of IVCA Private Credit Summit held in Mumbai.