Media Release
BSE hosts conference on emerging opportunities at IFSCA
Mumbai, June 12, 2024: The BSE today organized a conference at its International Convention Hall in Mumbai on emerging opportunities for various financial markets participants at the GIFT International Financial Services Centre (IFSC) in Gandhinagar in Gujarat.
Shri K Rajaraman (IAS), Chairperson of the International Financial Services Centre Authority (IFSCA) said that Gift City is offering a competitive tax-efficient capital raising jurisdiction that can compete with Singapore and Hong Kong. Shri Pradeep Ramakrishnan, Executive Director at IFSCA, explained the steps taken by IFSCA to ease onshoring of the offshore market.
Shri Amit Gouri, Partner, Financial Services at Ernst and Young (EY), talked about innovative approaches and strategies on fundraising and direct listing. He pointed out that as of March 2024, cumulative debt securities listings worth $56.4 billion have been recorded at IFSC Exchanges boosted by the absence of securities transactions tax, stamp duty, goods and services tax, and capital gains tax for non-residents at GIFT IFSC Exchanges.
About India INX
As the first international exchange at GIFT IFSC, India INX offers a 22-hour trading window for various financial market products, including index and single stock derivatives, commodity derivatives, currency derivatives, and debt securities. The exchange also introduced the Global Securities Market platform, an innovative concept in India that provides an efficient and transparent method for issuers to raise capital, comparable to other global listing venues such as London, Luxembourg, and Singapore.
India INX’s operational ease of listing surpasses that of other global exchanges due to factors such as flexible financial reporting, sensible treatment of SPV structures, better cash flow management, and a simplified secondary listing process. Eight different types of securities can be listed immediately. Those include supranational bonds, International and Indian debt- currency denominated bonds, foreign sovereign debt, depository receipts, REITs, Debt high yield bonds, Foreign and Indian equity, convertible bonds and Indian sovereign bonds. An additional benefit is the flexibility to raise funds in any major foreign currency.
About BSE
BSE (formerly Bombay Stock Exchange Ltd.), which will celebrate its 150th year anniversary in July 2024, is Asia’s oldest exchange. BSE has been playing a prominent role in developing the Indian capital market as India’s leading exchange group. BSE is a corporatized and demutualized entity with a broad shareholder base. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
Media Contact
Santanu Chakraborty
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Santanu.Chakraborty@bseindia.com