IFSCA proposes direct listings in GIFT City to bypass IPOs
IFSCA just dropped a proposal that could shake up how companies go public in GIFT City: it wants to let firms list their shares directly, skipping the usual IPO process.
This is great news for founders, early investors, and employees who want to cash out or get more flexibility without the hassle and costs of a traditional IPO.
IFSCA info doc replaces prospectus
To qualify, companies need at least $20 million in operating revenue, $1 million pre-tax profit, or a $50 million market cap after listing (which is double what's needed for regular GIFT IPOs).
Instead of an IPO prospectus, they'd file an info doc with an IFSCA-registered investment banker.
Share prices would be set through independent valuations and an auction on day one.
Public comments on this plan are open until August 3 as IFSCA aims to make GIFT City a bigger global player.