Govt allows direct listing of Indian cos on GIFT IFSC

AS a first step to let Indian companies to directly list on overseas exchanges, the government on Wednesday allowed direct listing of Indian Companies at GIFT- IFSC exchanges.

- MONIKA YADAV

The government also notified the "direct listing of equity shares of companies incorporated in India on international exchanges scheme", an overarching framework for issuing and listing of equity shares of public Indian companies on international exchanges.

Prior to this, Indian companies were not allowed to issue or list equity shares abroad.

To begin with, the new framework allows unlisted public Indian companies to list their shares on an international exchange. SEBI is in the process of issuing the operational guidelines for listed public Indian companies, said finance ministry on Wednesday.