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India's foreign listings went cold after '18
Business Standard
|July 29, 2025
Debt issuances and convertibles keep flowing as equity stalls
Indian entities haven't raised capital through foreign equity listings in over six years — the longest gap since liberalization.
The last such overseas equity fund-raise was in 2018, according to data from Prime Database. Listings abroad occurred nearly every year from 1992 through 2016, with 2017 being a rare exception. After one final issue in 2018, there have been no subsequent listings.
This lull comes as some Indian companies explore listings at Gujarat International Finance Tec-City (GIFT City), Gandhinagar, pitched as an alternative to offshore hubs like Singapore.
The government in 2024 cleared the path for direct listings of Indian companies on foreign exchanges. The India International Exchange (India INX) and NSE International Exchange (NSE IX) at GIFT City are the designated platforms.
यह कहानी Business Standard के July 29, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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