Singapore bourse opens liaison office in Mumbai

Jul 23 2014, 01:41 IST
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SummarySingapore Exchange (SGX) has opened a liaison office in Mumbai to attract greater Indian participation in listings and capital raising in the island nation.

Singapore Exchange (SGX) has opened a liaison office in Mumbai to attract greater Indian participation in listings and capital raising in the island nation. SGX, which has been a popular venue for Indian companies wanting to list abroad, is the first foreign stock exchange to open an office in the country.

“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 and with significant funding needs to support its growth and development,” SGX chief executive Magnus Bocker said in New Delhi on Tuesday.

Bocker also said India's infrastructure investment needs were so huge that not all capital could possibly be raised by the government and Indian capital markets. “The Indian government has targeted $1 trillion worth of infrastructure projects until 2017 with half of of this investment coming from public-private partnerships. There is also a need for funding business expansion and overall economic growth,” Bocker said.

Bocker said the government's easing of listing rules last fiscal, to allow unlisted Indian companies to raise capital in foreign bourses, will help companies from maritime, manufacturing, trade, power, road, energy, among others, to raise capital on SGX.

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