Issuers in wait-and-watch mode for overseas listing at GIFT City

Issuers will wait for ecosystem to develop further before firming up listing plans

With the government clearing the decks for direct listing at the Gujarat International Finance Tech (GIFT) City International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans.

In the meantime, most companies will continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk.

Sources said that a few key things need to be ironed out further. This includes clarity from the Reserve Bank of India (RBI) on how the money raised