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Sebi allows multilateral entities to issue securities in IFSC

IFSC is aimed at providing facilities and regulations comparable to other international financial centers in the world

Press Trust of India  |  New Delhi 

Sebi
Sebi

regulator has allowed multilateral and statutory organisations abroad to issue securities in the (IFSC) in India.

India's only has been set up in GIFT City, Gujarat, to enable Indian entities to compete on an equal footing with offshore financial centers.


is aimed at providing facilities and regulations comparable to other international financial centers in the world.

Amending the definition of the issuer, the (Sebi) said in a circular last night that an entity incorporated in a foreign jurisdiction provided it is permitted to issue securities outside of the country of its incorporation, can issue securities.

Besides, multilateral or statutory organisations, having permission to issue securities, can issue them in the IFSC, it said.

Currently, any entity incorporated in India seeking to raise capital in foreign currency and has obtained requisite approval under Foreign Exchange Management Act (FEMA) can issue securities.

First Published: Wed, November 15 2017. 14:58 IST
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