SINGAPORE, May 22: Singapore Exchange (SGX) will set up a liaison office in India within a month to help Indian firms interested in listing and raising capital in Singapore.
“Such capital raising is achieved via equity, Real Estate Investment Trust, Business Trust, Global Depository Receipts and debt listings on our Exchange,” Ronald Tan, SGX Director for Marketing and Business Development, told PTI today.
“I think for us that (the approval and office) is huge commitment because we have been engaging India for last 10 years,” he said.
The office location would be decided within a month, Tan added.
Indian issuers have already raised more than USD 60 billion via bonds listed on SGX, making them the third largest in the bourse’s bond segment.
“On equity listings, we currently have 5 listed securities of Indian origin listed on SGX. We have received strong interest for listing from India and we look forward to such aspirants raising capital on our Exchange to support their business growth,” he said.
Some Indian global depository receipts, representing shares already quoted on the Indian stock exchange, were also listed on SGX.
The fund raisers include Tata Group and Flipkart, and listings include Ascendas India Trust since 2007, Indiabulls Properties Investment Trust and Religare Health Trust.
Tan expects more Indian business trust of list on SGX, especially trusts dealing in infrastructure.
“We will focus on to provide funding required for infrastructure development in Asia, especially India,” Tan said.
Tan described the Indian general elections results a positive development.
“We’re believers in Indian growth… We believe we can provide complementary capital fund solutions,” he said.
In the meantime, SGX Senior Vice President and Head of Listings (India) Neena Prasad has been shuttling between New Delhi and Mumbai, leading the exchange’s efforts in attracting listings from India to its international capital-raising platform.
Prasad was appointed to head the India business last November. (PTI)
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