The National Stock Exchange of India (NSE) on Friday said it has signed a Memorandum of Understanding (MoU) with the London Stock Exchange Group (LSEG) to create a dual listing route for masala bonds and foreign currency bonds of Indian issuers.
The partnership would also explore the launch of "ELITE", LSEG's business support and capital raising programme for private high-growth companies, in India in 2019, an NSE statement said.
"LSEG and NSE will look to provide a route for masala bonds and foreign currency bonds of Indian issuers listed on London Stock Exchange to be dual listed on NSE's International Exchange, NSE IFSC Limited, in Gujarat International Finance Tech (GIFT) city," it said.
Similarly, masala bonds and foreign currency bonds of Indian issuers listed on NSE IFSC would be dual listed on London Stock Exchange.
Commenting on the tie-up Vikram Limaye, MD and CEO, NSE said: "Dual listing of masala bonds and foreign currency bonds of Indian issuers would enhance visibility, increase liquidity in secondary markets and enhance efficiency of price discovery for the bond issuers."
"This would also reduce the cost of raising capital for all issuers and encourage the participation of a wider variety of issuers in the masala bond market," he added.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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