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Compliance, tax major challenges for direct listing abroad

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Recently, Ms. Nirmala Sitharaman, Union Minister of Finance, announced that the government may soon allow Indian companies to list abroad via IFSC exchanges. The announcement which will allow Indian companies, especially startups, to tap international markets, however, may face multiple compliance and tax hurdles.

In this regard, Mr. Siddhant Mishra and Mr. Joydeep Ghosh wrote an article in the Financial Express (India).

The article also features views of Mr. Sumit Agrawal, Managing Partner, Regstreet Law Advisors and former SEBI officer, observed that, โ€œThe governmentโ€™s initiative is praiseworthy as it is expected to improve access to global capital and enhance valuations. However, there are challenges in convincing foreign stock exchanges to participate and maintaining a balance in listing norms between IFSC and non-IFSC entities. Another hurdle is addressing the issue of capital account convertibility in overseas listings.โ€ Mr. Agrawal also pointed out that regulators have in the past shown discomfort with allowing Indian companies to list directly overseas, which is why clear compliance guidelines will be essential.

The complete article has been attached for the readers.

Readers are also welcome to send their views to Regstreet Law Advisors at info@regstreetlaw.com

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