India INX welcomes NTPC Limited on the Global Securities Market
NTPC establishes its USD 6.0 Billion MTN programme on India’s international exchange
Mumbai, January 25, 2018: India International Exchange IFSC (India INX) welcomes listing of NTPC Limited’s USD 6.0 Billion MTN programme on its Global Securities Market. This is the first program listing by an Indian quasi-sovereign Company on India’s first international exchange. Last year while inaugurating India International Exchange (India INX), P.M. Narendra Modi had set forth the vision that International Exchange at GIFT should become listing destination for issuers from India and the region.
On establishing, one of the largest program till date by an Indian PSU, Mr. Gurdeep Singh, Chairman and Managing Director, NTPC Ltd conveyed -
“This is NTPC’s first listing at India International Exchange and we are very happy to be part of India INX at IFSC, GIFT City. Now, for the first time in India, we have the opportunity to reach out to international investors to raise funds using a wide variety of products and currencies, in a similar manner, as available in other international markets. We are excited with this new development and look forward to partnering with India INX in years to come.”
Mr. V. Balasubramaniam MD & CEO, India INX expressed that he was happy to extend a warm welcome to NTPC Limited for establishing USD 6.0 Billion MTN programme on Global Securities Market platform. Listing of such large MTN programme of India’s largest power generating company is a matter of pride for India INX’s IFSC mission. As an exchange, our endeavour always is to offer a transparent, robust, cost effective and efficient capital-raising platform to both global investors as well as Indian issuers. We treasure and value this partnership with NTPC.
The Global Securities Market (GSM) went live on 8 Dec, 2017 with publication of its debt listing framework by India INX. It was inaugurated by Shri Piyush Goyal, Minister of Railways and Coal on 13th Jan, 2018.
About India INX
India Inx, a wholly-owned subsidiary of BSE Ltd, commenced its trading activities on January 16, 2017 and is India’s first International Exchange set up at GIFT City. It is one of the world’s most advanced technology platforms with a turn-around time of 4 micro seconds and operates for 22 hours a day to allow international investors and Non Residents Indians to trade from anywhere across the globe. The exchange provides a common platform for all asset classes - equities, currencies, commodities. The exchange proposes to commence offerings of depository receipts and bonds once the required infrastructure is in place.
India INX offers a diversified portfolio of products and technology services at a cost which is far more competitive to Indian exchanges as well as other global exchanges like those in Hong Kong Singapore, Dubai, London and New York. The exchange being located in IFSC, GIFT City, provides competitive advantage in terms of tax structure and supportive regulatory framework. These include benefits in security transaction tax, commodity transaction tax, dividend distribution tax and long-term capital gain tax waivers and no income tax.
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