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Indian government allows Indian companies to directly list on foreign stock exchanges without the need for Global Depository Receipts (GDRs), giving them access to more capital. It explores the use of Depository Receipts and the drawbacks of using GDRs such as exposure to currency fluctuation risk. The government has made amendments and additional rules to make it easier for Indian companies to raise money overseas.
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Quick takeaways
- Indian companies can now list directly on foreign stock exchanges, bypassing the traditional route of using Depository Receipts (DRs).
- The government has introduced additional rules to monitor money laundering, making it easier for Indian companies to raise funds overseas.
Deep dives
Companies can now directly list on foreign stock exchanges
Indian companies can now bypass the traditional route of using Depository Receipts (DRs) and list directly on foreign stock exchanges. Previously, Indian companies had to incorporate through DRs, which involved selling shares to local banks and creating DRs based on a ratio of shares held. However, this process was time-consuming and costly for companies. Now, thanks to an amendment to the Companies Act in 2020, select Indian companies can directly list their shares on foreign stock exchanges, eliminating the need for intermediaries. This move aims to provide easier access to capital and enable companies to raise more funds for expansion, product launches, and debt reduction.
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Listen to the best highlights from the podcasts you love and dive into the full episode