Public float requirement reduced for IFSC-listed companies, with related listing eligibility provisions modified accordingly. The Rules now define International Financial Services Centre and International Financial Services Centres Authority as per the IFSC Authority Act, 2019. For companies seeking listing on a recognised IFSC stock exchange, the public float threshold in certain listing eligibility provisions is reduced and specific sub-clauses are rendered inapplicable. Similarly, for companies already listed in an IFSC, designated sub-rules are to be read with a lower public float requirement and a stated proviso does not apply to them. These amendments commence on publication in the Official Gazette.
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Public float requirement reduced for IFSC-listed companies, with related listing eligibility provisions modified accordingly.
The Rules now define International Financial Services Centre and International Financial Services Centres Authority as per the IFSC Authority Act, 2019. For companies seeking listing on a recognised IFSC stock exchange, the public float threshold in certain listing eligibility provisions is reduced and specific sub-clauses are rendered inapplicable. Similarly, for companies already listed in an IFSC, designated sub-rules are to be read with a lower public float requirement and a stated proviso does not apply to them. These amendments commence on publication in the Official Gazette.
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