Govt allows direct overseas listing of firms; notifies under companies law

In a significant move, the government has permitted Indian companies to list on foreign exchanges, subject to certain conditions.

The corporate affairs ministry has notified the relevant section under the companies law in this regard.

Currently, overseas listings by local listed entities are carried out through American Depository Receipts (ADRs) and Global Depository Receipts (GDRs).

“In exercise of the powers conferred by…