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GIFT City in Gujarat could soon emerge as an independent platform for unlisted companies to raise equity capital via initial public offerings (IPO).
According to sources, primary market activity is showing signs of a surge with nearly half a dozen companies, including an edtech firm, initiating discussions for listings.
This comes almost a year after the regulator — International Financial Services Centre Authority (IFSCA) — issued its direct listing framework.
Sources said these companies have initiated discussions to raise capital of $10-15 million and one of them may file draft documents for an IPO as early as this month.
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