India’s NSE International Exchange is aiming to attract its first equity listing in a foreign currency this quarter, a milestone it says will demonstrate a new fundraising avenue for firms.
The NSE IX exchange, situated in the financial hub of Gujarat International Finance Tec-City, or GIFT City, is initially targeting unlisted companies for the debut, chief executive officer V. Balasubramaniam said in an interview. These may be Indian firms with foreign holdings or even Silicon Valley or Delaware-based entities, he said, without providing any names.
GIFT City is an initiative of Prime Minister Narendra Modi aimed at positioning India as a global financial hub to rival Dubai or Hong Kong. The zone offers exemptions from certain taxes and regulatory restrictions, making it a more attractive for international capital raising.
