Nasdaq talking to over ten local firms for listing

Premier US bourse Nasdaq is talking to over ten Indian companies for listing their shares on the exchange.

"We are not just looking at IT companies but also those in biotech, manufacturing and banking sectors," said Charlotte Crosswell, head (International Business), Nasdaq.

While declining to name the companies with which Nasdaq was talking, she said the number was in double digits.

The renewed interest among Indian firms to list their shares in overseas bourses is despite the buoyant market condition in India.

Over a dozen companies have tapped the domestic capital market with initial and follow-on public offers in the recent months, while more than two dozen companies have raised funds through the Foreign Currency Convertible Bonds.

Crosswell, however, said there was renewed interest among companies in the emerging markets such as India, China and Russia.

Crosswell is slated to come to India in the next few months to attend a conference of Nasscom, which would provide a platform for the bourse to interact with companies eager to list shares abroad.

Listing in Nasdaq gives companies greater visibility in the global space and enables companies to raise resources at a cheaper cost. Companies such as Infosys, Satyam Infoway and Rediff have earned accolades from global investors after they listed their shares in Nasdaq.