Photo: Mint
Photo: Mint

NSE, LSE join hands for dual listing of masala bonds

Two exchanges will look to provide a route for Masala bonds and foreign currency bonds of Indian issuers listed on LSE to be dual listed on NSE's International Exchange

Mumbai: National Stock Exchange of India (NSE) has signed a memorandum of understanding (MoU) with London Stock Exchange Group (LSEG) to collaborate on creating a dual listing route for masala bonds and foreign currency bonds of Indian issuers.

LSEG has listed 46 Masala bonds, which have raised an equivalent of more than $5 billion. The two exchanges 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 Ltd, in Gujarat International Finance Tech (GIFT) City.

Similarly, Masala bonds and foreign currency bonds of Indian issuers listed on NSE IFSC in GIFT City will be dual listed on the London Stock Exchange.

Through the approval of a single listing document, an issuer will be able to obtain a dual listing on LSE’s International Securities Market and GIFT City, according to a statement by the two exchanges.

The two will also explore the launch of Elite, LSEG’s successful business support and capital raising programme for small and medium enterprises in India in 2019.

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