He said India has about 2,400 Fintech firms which are growing exponentially. "The IFSCA, I would like to emphasise, attaches huge importance to developing the FinTech hub. We want to be the frontrunners in this," Chairman Injeti Srinivas said.
Draft norms on SPAC listing in GIFT city out
March 10, 2021
“Framework to facilitate issuers access capital”
India s Gift City regulator IFSCA is now looking to facilitate the listing of Special Purpose Acquisition Companies (SPACs) – which have been all rage in the US in recent months – in the stock exchanges under its supervision, clearly indicating its keenness to promote innovative methods for raising of capital and make Gift City a globally competitive financial platform for global issuers.
A new consultation paper issued by IFSCA now seeks public comments on its proposal to enact an “all encompassing framework to facilitate issuers access global capital”.
If India promotes Spacs, Indian capital markets will benefit from the competitive edge over other Asian markets. Of course, that will require Sebi and other institutions (especially, judiciary and enforcement) to be responsive to the needs of Spac investors, especially international ones.
(DKNG), Goldman Sachs Group, Inc (The) (NYSE:GS) - SPACs Are Booming But Balanced, Exposure Is Still Recommended benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
Hong Kong is exploring whether to allow Special Purpose Acquisition Companies (SPAC) to list in the Asian financial hub, according to a government statement, indicating that a largely U.S. phenomenon could be going global.