- New Indian rules will permit local companies
without a domestic listing to list global depositary receipts
and American depositary receipts overseas for a period of two
- This development likely stems from the
country’s need to bring in foreign capital to
stabilise the rupee, which saw periods of volatility this
- But more clarity is needed regarding
Sebi’s local disclosure
- The regulator must also clarify whether
foreign-listed companies will be forced to list in India
following the two-year period.
India’s new rules allowing local
companies without a domestic listing to list overseas have
generated excitement, but market participants believe that more
clarity is needed.
On September 27, the Ministry of Finance announced a
two-year pilot programme that allows unlisted Indian companies
to raise capital abroad...