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Indian Oil lists foreign currency bonds on IFSC exchanges

Indian Oil lists foreign currency bonds on IFSC exchanges

02 Sep 2021

New Delhi: listed has listed its foreign currency bonds on IFSC (International Financial Services Centre) exchanges at Gujarat International Finance Tec-City (GIFT). “We are extremely delighted to be here on the momentous occasion of the listing ceremony of $1.4 billion and SGD 400 million on NSE IFSC and India INX exchanges,” Indian Oil Director- Finance Sandeep Kumar Gupta was quoted as saying in a statement issued by NSE IFSC on Thursday.

According to him, the advent of IFSC at Gift City has provided an opportunity for Indian companies to access offshore funds within India.

These bonds were listed on the global securities market platform of India International Exchange (India INX) and debt securities market platform of NSE International Exchange (NSE IFSC).

These platforms were launched for listing and trading of debt securities in multiple foreign currency bonds, green bonds, masala bonds, notes, among others.

The platforms provide an efficient international listing process to issuers with minimum turnaround time and investment opportunities for investors from across the world.

Since the launch of NSE IFSC debt securities market, the platform has listed total aggregate Medium-Term Note (MTNs) worth over $22 billion; also witnessed listing of issues aggregate to $14.12 billion (including $800 million Green Bond).

“We are enhancing the global competitiveness of IFSC by developing complete sustainable finance ecosystem and innovative product offerings. We are committed to provide vibrant financial services ecosystem to attract foreign investment to make GIFT IFSC a global financial hub,” Manoj Kumar, Executive Director, IFSCA said.

Ravi Varanasi, President, NSE Group said the setting up of international financial services centers in India offers wide range of products to raise funds in various currencies and this is the first time an issuer is doing a listing of Singapore dollar denominated currency bonds in NSE IFSC.

The listing and trading of bonds at IFSC would offer cost efficiency as well as enable issuer to access international investors, he added.