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GIFT City: Companies to List Shares Directly, No IPO Needed
30 Sep
Summary
- Companies can now list shares directly on GIFT City, bypassing traditional IPOs.
- GIFT IFSC has raised $85 billion through bonds, including $18 billion in green bonds.
- Nearly 3 million Indians registered for GIFT City's global access investment program.
The International Financial Services Centres Authority (IFSCA) is preparing to launch a direct-listing framework at GIFT City within months. This new system will permit companies to list their shares without undergoing a conventional initial public offering (IPO), significantly streamlining the process.
Pradeep Ramakrishnan, Executive Director at IFSCA, stated that companies will be directly onboarded as listed entities, making their shares available for trading without the need for an IPO. This move is designed to stimulate the equity market at GIFT IFSC, which is currently in its nascent stages compared to its flourishing bond market.
As of June 2026, GIFT IFSC hosts approximately 1,400 registered entities across various business lines. The center has facilitated substantial capital flows, with nearly $85 billion raised through listed bonds, including approximately $18 billion from sustainable bonds. It also serves as a crucial conduit for Indian companies raising external commercial borrowings, with about 75% routed through GIFT City.
Furthermore, GIFT City's global investment platform has attracted significant retail participation. Nearly 3 million Indians have registered, enabling them to invest in shares, bonds, and ETFs across about 50 countries. Indian fund houses also leverage GIFT City arms to bypass overseas investment caps, offering global market access to investors with smaller ticket sizes.
