New Delhi: Singapore Exchange (SGX) on Tuesday said it has opened a liaison office in India, which will help Indian firms get listed and raise capital in Singapore.
The exchange, which has set-up its liaison office in Mumbai, will provide information and act as a communication channel to support capital raising by Indian companies in Singapore. Such fund mop-up can be achieved through listing of stocks, bonds, real estate investment trust and depository receipts.
The exchange has appointed Neena Prasad as its chief Representative in India.
"Our India office will enable us to better support Indian companies seeking to raise capital as India is one of the world's fastest growing economies with significant funding needs to support its growth and development,"SGX CEO Magnus Bocker told reporters here.
"We look forward to working with partners in India to assist companies in reaching out to the international investment community," he added.
The exchange's liaison office in India has commenced operations after receiving regulatory approvals.
Indian issuers have already raised more than USD 60 billion via bonds listed on SGX, making them the third largest in the bourse's bond segment.
These issuers covers a wide spectrum of sectors, including banking and financial services, energy and commodities, healthcare, utilities, telecommunication and transportation.
Bocker said that about 80 percent of listed international bonds by Indian issuers are listed on SGX.
Some Indian global depository receipts, representing shares already quoted on the Indian stock exchange, were also listed on SGX.
Among the Indian firms listed on SGX included Ascendas India Trust since 2007, Indiabulls Properties Investment Trust and Religare Health Trust.
The exchange's association with India started in 2000, when SGX and National Stock Exchange (NSE)collaborated to develop futures markets. Besides, SGX has a five percent stake in BSE, allowing the Singapore bourse to participate in India's capital market.
"We will continue to strengthen our partnership with NSE as we grow the Nifty franchise internationally. As a stakeholder in BSE, we will support the exchange by bringing efficiency with new initiatives and IPOs," Bocker noted.
Meanwhile, he described about Indian general elections results a positive development.
"We have a more positive view on India, than it was six-months ago," Bocker said.
SGX is among the Asia's most international listing venue with more than 40 per cent of listed companies originating outside from Singapore. Nearly 800 companies and about 1,500 bonds from 36 countries are listed on SGX.
