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Bill permitting overseas listing of startups gets Lok Sabha nod

Bill permitting overseas listing of startups gets Lok Sabha nod

The bill seeks to allow public companies to list certain class of securities in foreign jurisdictions

Currently, Indian companies can’t directly list abroad, prior to listing in domestic stock exchanges

Beneficial to Indian startups like PhonePe, PolicyBazaar and Flipkart that are planning to go public soon

Though direct foreign listing is not possible, many companies have set up parent entities abroad

The bill will decriminalise certain offences listed in the Companies Act, 2013

The number of penal provisions will be brought down from 134 to 124

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