Department of Economic Affairs amends Securities Contracts Regulation Rules (SCRR), 1956, facilitating direct listing of securities by public Indian companies on International Exchanges of GIFT IFSC

The Department of Economic Affairs, Ministry of Finance, has amended the Securities Contracts Regulation Rules (SCRR), 1956 to ease the listing requirements for Indian companies seeking to list on international exchanges within International Financial Service Centres (IFSCs) at par with global standards.

The new rules stipulate that:

1. Minimum Public Offer: For public Indian companies desiring to list solely on international exchanges in IFSCs, the minimum offer and allotment to the public as per the offer document shall be at least 10% of the post-issue capital.
2. Continuous Listing Requirements: The continuous listing requirement for such companies has also been set at 10%, as outlined under Rules 19 (2)(b) and 19A of the SCRR.

By reducing these thresholds, the amendments in SCRR facilitate easier access to global capital for Indian start-ups and companies in the sunrise and the technology sectors.