On 28 August 2024, IND IFSCA revised rules to facilitate securities listing.
- IND IFSCA published amendments to the Securities contracts (regulation) rules, 1957.
- Renamed Securities contracts (regulation) amendment rules, 2024, the rules aim to facilitate listing on a stock exchange in International Financial Service Centre.
Amendments
- Introduced definitions for International Financial Services Centre and International Financial Services Centres Authority, for alignment with the relevant 2019 act.
- Rules 19 and 19A were revised to reduce the minimum public offering /shareholding requirements for IFSC recognized stock exchange-listed companies, from 25% to 10%.
Effectiveness
- The revisions to the rules are effective from 28 August 2024.
