Udayavni Special

Govt likely to allow Indian companies list their equity shares overseas


PTI, Jan 27, 2020, 2:15 PM IST

New Delhi: The government is likely to soon decide on permitting Indian companies to list their equity shares overseas, according to an official.

Apart from providing an additional fundraising avenue for the corporates looking to expand and boost their business activities, an overseas listing of shares would also help in bringing more capital into the country.

The official said many companies are interested in listing their equity shares in foreign countries.

Currently, quite a few Indian companies have American Depository Receipts (ADRs) that are traded in the US. Some other corporates have their Global Depository Receipts (GDRs).

The official said the corporate affairs ministry and markets regulator Sebi are in favour of allowing Indian companies to list their equity shares in foreign countries.

Other departments and regulators are also expected to be on board, the official added.

A decision is likely soon, the official said, adding that changes would need to be done in the companies law and Sebi regulations for permitting listing of domestic companies overseas.

Further, the official said that only public companies are likely to be given permission for an overseas listing of equity shares.

Under the Companies Act, public companies should have at least seven shareholders and have no restriction on transferability of their shares, among other criteria.

A depository receipt is a foreign currency-denominated instrument, listed on an international exchange, issued by a foreign depository to a domestic custodian and includes GDRs.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

COVID-19: Karnataka logs 6,955 infections, 36 deaths

India fastest nation to administer 100 million doses of COVID vaccine: Health Ministry

Tweet recalls queen’s loving anniversary speech

EC should be held responsible for Cooch Behar killings: Chidambaram

After Rahul Dravid, Deepika Padukone calls her baby self ‘Indiranagar ki Gundi’

Govt asks fertiliser manufacturers, importers to ensure adequate supply during kharif 2021

Woman who consumed poison outside Union Minister Pralhad Joshi’s house, dies





Related Articles More

India needs to grow faster to make up for contraction during COVID-19 pandemic: IMF

Alibaba fined USD 2.8 billion on competition charge in China

Net direct tax mop up exceeds revised estimates at Rs 9.45 lakh cr in FY21

Recovery is underway after worst global recession since World War II: IMF MD

During COVID-19 pandemic, India’s debt to GDP ratio increased from 74 pc to 90 pc: IMF

MUST WATCH

News Bulletin 10- 04-2021 | UDAYAVANI

Impact of Lock-down on fisheries | Fisheries Industry

Mangaluru: Woman rescues dog from 50-ft well

‘Night Corona curfew’: Compol issues guidelines, know rules

Kundapura: Minitruck dumps waste near road; local man makes them reload it

Latest Additions

COVID-19: Karnataka logs 6,955 infections, 36 deaths

India fastest nation to administer 100 million doses of COVID vaccine: Health Ministry

Tweet recalls queen’s loving anniversary speech

EC should be held responsible for Cooch Behar killings: Chidambaram

After Rahul Dravid, Deepika Padukone calls her baby self ‘Indiranagar ki Gundi’

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.