Govt allows Indian public companies to directly list shares overseas

To improve ease of doing business, the government on Sunday announced allowing Indian public companies to directly list their shares overseas. Also, private companies that list their debentures on stock exchanges will now not be regarded as listed firms.

The move will help Indian companies get access to multiple jurisdictions for raising capital, with differing costs and listing conditions, said experts. Besides, clarification with respect to listing of non-convertible debenture (NCDs) will ease compliance issues faced by private firms.

At present, some Indian companies have American Depository Receipts