IFSCA to Finalize Revised Listing Norms for GIFT City by Early July

The International Financial Services Centres Authority (IFSCA) will implement updated norms for direct listing of companies at GIFT City by early July. This revision aims to better serve market needs and will enable unlisted and listed companies to participate in the international exchanges. Necessary amendments by SEBI and other developmental activities are also underway.

In a significant move, the International Financial Services Centres Authority (IFSCA) is set to finalize revised norms for the direct listing of companies at GIFT City by early July, according to Chairman K Rajaraman.

Speaking to reporters, Rajaraman clarified that the IFSCA's apex decision-making body will approve these norms by the end of June, with official notification expected in early July. He noted that recent interactions with market participants revealed a need for updated regulations.

Although specifics of the changes remain undisclosed, companies will likely list under the new norms by August. SEBI will also modify its existing regulations to facilitate Indian companies accessing foreign capital via GIFT City. Other developmental initiatives include the anticipated authorization of gold futures at IIBX and the potential issuance of sovereign green bonds.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)