India allows private firms to list and raise capital abroad

New Delhi, Sep 27 : Private Indian companies will now be allowed to get listed and raise capital in foreign markets without the requirement of prior or subsequent listing in India, the government said Friday.

Finance Minister P Chidambaram has approved the proposal that will help Indian firms raise capital abroad.

At present, unlisted companies that are incorporated in India are not allowed to directly list in overseas markets without prior or simultaneous listing in Indian markets.

"It has now been decided with the approval of the Union Finance Minister that unlisted companies may be allowed to raise capital abroad without the requirement of prior or subsequent listing in India," the finance ministry said in a statement.

The new scheme will be implemented on a pilot basis for a period of two years from the date of notification of the scheme. After the initial two year period, the impact of this arrangement will be reviewed, it said.

Ministry of Finance, Department of Industrial Policy and Promotion (DIPP) and Reserve Bank of India (RBI) will issue necessary notifications in due course in order to implement the required changes to the existing rules, the statement added.

--IANS (Posted on 27-09-2013)

business-india-news headlines

Sensex hits record high for third straight day

Franklin Templeton Investments to launch new fund scheme

Micromax launches Canvas Doodle 3

IFC focus on e-payment systems

Toyota India resumes operations as workers return

Tata Elxsi net zooms 239 percent in fiscal 2013-14 becomes Rajasthan Royals' Official Travel Partner

Cognizant acquires itaas

Networkplay enters into partnership with T3 IGI Airport

Rupee falls to one-month low of 60.88 against dollar

Sensex, Nifty touch new highs, close flat

Indian Rupee - Forex Rates (22 April 2014)

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014


Your e-mail:

Your Full Name:

Type verification image:
verification image, type it in the box


Back to Top