The Securities Contracts Regulation Rules (SCRR), 1956 amended, to facilitate direct listing of securities by public Indian companies on International Exchanges of GIFT IFSC

Vide a Notification dated 28th August 2024, the Department of Economic Affairs, Ministry of Finance, 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 statement issued by the Ministry of Finance states:  “

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. This will particularly benefit Indian companies going global and having ambitions to look at opportunities for expanding their presence in other markets. This initiative underscores the Government's commitment to providing an agile and world-class regulatory and business environment in the IFSCs, thereby strengthening India's position in the global financial system.”   

The amendments encourage companies to list on the IFSC, as the new amendment enables them to retain control of their companies while attracting public capital.  

https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2049633#:~:text=The%20Department%20of%20Economic%20Affairs%2C%20Ministry%20of%20Finance%2C,Service%20Centres%20%28IFSCs%29%20at%20par%20with%20global%20standards

https://static.pib.gov.in/WriteReadData/specificdocs/documents/2024/aug/doc2024829382401.pdf