Tightening of norms by US bourses may queer the pitch for Indian entities

Tightening of the listing framework by US bourses and the proposal to delist non-compliant firms may make the road more tough for Indian entities looking to sell shares in the world’s largest market.

The Senate passed a legislation earlier this week that requires non-US firms to meet a number of strict criteria to remain listed. Further, exchanges including Nasdaq plan to enforce tighter rules for initial public offerings (IPOs). One such rule mandates companies to raise a minimum of $25 million, or sell at least 25 per cent equity.

Experts said the decision to enact a tighter framework was aimed