A number of investment banks are showing interest to start operations at GIFT City to assist initial public offerings (IPOs) of potential candidates, said Pradeep Ramakrishnan, executive director at the International Financial Services Centres Authority (IFSCA).
“Informed investors in India would like to buy stocks listed in GIFT City,” he said at a summit, organised by IFR Asia. Indian firms with operations abroad and Indians residing overseas wanting to list their businesses here will be interested in IPOs in GIFT City, he said. The IFSCA will position GIFT as the “international go-to-place for the Global South”.
What did Hetal Kotak say?
Hetal Kotak, head – listings at NSE IFSC (IX), said foreign currency-denominated equity and debt listings on the platform are finding a huge interest. The IPO of XED, an education and executive training firm, poised to be the first company to list in GIFT, has been delayed from around Diwali to November.
What did Nikhil Naredi say?
Nikhil Naredi, a partner at law firm Shardul Amarchand Mangaldas, said foreign companies with India presence will show interest in GIFT. “The export of Indian capital markets is over and the theme will be the inverse,” he said. Several experts share this view.