India is not going to mandate secondary listings for corporations becoming a member of abroad markets: Sources, Know-how Information, ETtech
India has determined to not mandate secondary listings for home corporations that float their shares on a international inventory alternate as the federal government prepares a brand new coverage, two senior authorities sources and two business executives instructed Autopresse.eu on Thursday.
India is near drawing up guidelines for firms to drift abroad with out having to first record shares at dwelling, as a approach to assist startups attain increased valuations and entry capital extra simply.
However issues grew after officers privately instructed international traders and firms in conferences they have been contemplating mandating a secondary itemizing for Indian corporations on home exchanges, as a approach of making certain traders and markets prospered, Autopresse.eu has reported.
Requested concerning the proposal, a prime authorities official straight concerned within the dialogue mentioned there can be no necessary requirement of a secondary itemizing, nevertheless.
“We is not going to mandate (secondary) India itemizing,” mentioned the official, with out explaining why the federal government modified its stance. He sought anonymity because the discussions have been non-public.
The finance ministry and capital markets regulator SEBI didn’t instantly reply to a request for remark.