INSUBCONTINENT EXCLUSIVE:
Market regulator, the Securities and Exchange Board of India (Sebi), has formed an expert panel to mull norms for direct listing of Indian
companies overseas.
At present, listing of equity share capital of companies incorporated in India is not permitted on foreign exchanges and
nine-member committee will comprise Ranu Vohra, Co-founder, MD CEO, Avendus Capital; Cyril Shroff, Managing Partner, Cyril Amarchand
Mangaldas; Kamal Yadav, Managing Director, Morgan Stanley; S Ramesh, Managing Director CEO, Kotak Investment Banking; Neeraj Bhargava,
Senior MD CEO, Zodius Capital Advisors; Deep Kalra, Chairman Group CEO, MakeMyTrip.com; Rajiv Gupta, Partner, Singapore, Latham Watkings
LLP and Jamil Khatri, KPMG and Sujit Prasad, Executive Director; Sebi (Convener).
The regulator in a release also added that companies
incorporated in India today can list their debt securities on international exchanges (masala bonds), but their equity share capital can be
listed abroad only through the ADR/GDR route
Similarly, companies incorporated outside India can access the Indian capital markets only through the IDR route
Thus, presently, direct listing of equity share capital of companies incorporated in India is not permitted on foreign exchanges and vice
