Government Allows Direct Overseas Listing of Indian Companies

On 30th October, 2023, in a step towards allowing Indian companies to list on foreign stock exchanges, the ministry of corporate affairs (MCA) brought into force a provision to allow certain public companies to issue a class of securities for listing on foreign bourses.

  • The provision, which comes into effect from October 30, was introduced in the Companies Amendment Act 2020.
  • This action comes after the statement by the Finance Minister in September, 2023, allowing Indian companies to engage in a direct "foreign listing" in International Financial Services Centres, specifically in GIFT City(Gujarat).

New Provisions

  • Section 5, which has been implemented, makes ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content

Already a Member? Login here

Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Be an Annual Subscriber

Economy Watch