Page 2 of Sun Pharmaceutical Industries

Fund raising in Gujarat International Finance Tec (GIFT) City’s international stock exchanges, NSE IX and India INX, has seen a significant increase in 2025 with several large issuances worth over $4 billion. This includes ICICI Bank’s $700 million and $500 million foreign currency bonds, Muthoot Finance’s $600 million listing, and upcoming listings from ECGC, NaBFID, SMFG India, and NABARD.