FM Nirmala Sitharaman: Finance Minister Nirmala Sitharaman has again given a gift to Indians today. If you are also doing business in India and you have a company, then now the central government has taken a big decision. Sitharaman said that Indian companies can now be directly listed on foreign stock exchanges as well as on the International Financial Services Center (IFSC) located in Ahmedabad.
The announcement was made during the Kovid package
The government had announced in this regard under the Kovid relief package, which has been approved after three years. Through this, domestic companies will be helped to raise funds by listing their shares on various stock exchanges abroad. A proposal in this regard was first introduced in May 2020 under the cash package announced during the pandemic.
Sitharaman said – I am happy
Sitharaman has said here that domestic companies can now directly list securities abroad. I am also happy to announce that the Government has also decided to allow direct listing of listed and unlisted companies on IFSC exchanges.
Will prove to be a big step
He said that this is a big step and this will give Indian companies better valuation facilities and access to global capital. She was speaking at an event to mark the launch of AMC Repo Settlement and Corporate Debt Market Development Fund to help strengthen the corporate bond market.
He also called for a regulatory impact assessment, so that regulated entities and the market can better understand the consequences of their decisions. Sitharaman said the government is encouraging cities to improve their credit ratings so that they can get better prices for their bonds.
