Govt allows direct listing of Indian cos on international exchanges of GIFT IFSC

The Union government has permitted the direct listing of securities by Indian companies on international exchanges of GIFT IFSC. The Department of Economic Affairs (DEA) in the Ministry of Finance has amended Foreign Exchange Management (Non-debt Instruments) Rules and notified the 'Direct Listing of Equity Shares of Companies Incorporated in India on International Exchanges Scheme'. The initiative is expected to boost foreign investment flows.International stock exchanges at GIFT-IFSC - India International Exchange and NSE International Exchange have been, currently, prescribed as permitted stock exchanges.