Centre raises MSP for Copra for 2025 season
The Cabinet Committee on Economic Affairs, on Friday, gave its approval to the Minimum Support Price (MSP) for copra for 2025 season.
The Union Government has cleared the path for allowing Indian companies to list securities directly at Gujarat International Finance Tec-city International Financial Services Centre (GIFT IFSC) with a minimum 10 per cent public float.
The Department of Economic Affairs, Ministry of Finance, amended the Securities Contracts Regulation Rules (SCRR), 1956, reduced the minimum public offer and continuous listing requirement to 10 per cent for companies listing on international exchanges at the GIFT-IFSC.
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With the amendments coming into force, for public Indian companies desiring to list solely on international exchanges in IFSCs, the minimum offer and allotment to the public as per the offer document shall be at least 10 per cent of the post-issue capital.
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Further, the continuous listing requirement for such companies has also been set at 10 per cent, as outlined under Rules 19 (2)(b) and 19A of the SCRR.
Notably, this is significantly lower than the 25 per cent mandated for listings on domestic exchanges.
By reducing these thresholds, the amendments in Securities Contracts Regulation Rules (SCRR) facilitate easier access to global capital for Indian start-ups and companies in the sunrise and the technology sectors.
This will particularly benefit Indian companies going global and having ambitions to look at opportunities for expanding their presence in other markets.
This initiative underscores the government’s commitment to providing an agile and world-class regulatory and business environment in the IFSCs, thereby strengthening India’s position in the global financial system.
The amendment follows the government’s initiative announced in January, allowing domestic public companies to issue and list their shares directly on global exchanges housed at the GIFT IFSC.
At present, both major Indian exchanges NSE and BSE operate their international exchanges at GIFT City IFSC, namely NSE IFSC IX, and India INX.
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