New Delhi, Jan 21 Wholly-owned subsidiary of the National Stock Exchange of India, NSEIX informed on Wednesday that it signed a memorandum of understanding (MoU) with Finance Industry Development Council to help non‑banking financial companies raise capital in GIFT IFSC.
Finance Industry Development Council is a self-regulatory organisation for Non- Banking Financial Companies (NBFCs).
The collaboration will enhance capital market access by facilitating NBFCs in raising funds through the NSEIX platform and enable listing of NBFC‑related debt and other financial instruments on NSEIX, an international multi‑asset exchange in GIFT City, according to the official statement.
The partnership aims to provide access to innovative debt and equity products through the NSEIX platform at GIFT City, thereby supporting the perpetual funding requirements of NBFC institutions, it added.
“NSEIX is delighted to partner in this strategic alliance with FIDC to enable seamless access to facilitate fundraising opportunities for NBFCs through GIFT IFSC.
“Today is the landmark day for NBFCs in India striving to raise Capital. Proving this platform through NSEIX and signing of MOU by FIDC with NSEIX will give NBFCs with global growth aspirations the Choice of Capital, Currency, Instruments, Structures and most importantly choice of long-term thinking and planning,” Mahesh Thakkar, Chairman, FIDC said.
NBFCs can now explore foreign currency borrowings with better tenor alignment, international bond issuances, structured debt instruments, access to global institutional investors, equity and quasi-equity options in the IFSC ecosystem.
Thakkar said the platform is crucial for NBFCs thinking about perpetual funding needs, as "capital is not just money, capital is confidence."
NSEIX, located at GIFT City, was established on June 5, 2017, and is recognised by the International Financial Services Centres Authority. It claims a market share of over 99.7 per cent in GIFT IFSC.
NSEIX offers Indian single stock derivatives, index derivatives, currency derivatives, depository receipts, and global stocks to investors. The exchange also provides a comprehensive range of primary market products, including listings of equity shares, SPACs, REITs, InvITs, depository receipts, debt securities, and ESG debt securities.
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