Nasdaq Dubai woos Indian investors
Dubai, April 9, 2013
A high-level delegation from Nasdaq Dubai, the international financial exchange serving the region between Western Europe and East Asia, visited India to discuss capital-raising options for Indian companies.
The two-day visit, which began on April 8, was organised by the investment bank, Alpen Capital, given its expertise in both the GCC and Indian markets. Alpen Capital has assisted a number of Indian companies looking to grow in the GCC region through strategic acquisitions, raising capital or partnering with high profile companies.
The visiting delegation included Craig Hewett, the senior VP and head of business development of Nasdaq Dubai and RohitWalia, the executive vice chairman & CEO of Alpen Capital.
Alpen Capital partnered with the Federation of Indian Chambers of Commerce and Industry (FICCI) to introduce Nasdaq Dubai to Indian businesses and prospective issuers.
During the visit, Nasdaq Dubai team met top officials from Indian companies in Mumbai and New Delhi that have strong links to the GCC region.
The companies are exploring options to raise capital through equity, including global depository receipts (GDRs), as well as through debt, exchange-traded funds, real estate investment trusts (REITs) and other products, said a senior official.
Hamed Ali, the acting chief executive of Nasdaq Dubai, said: “As business links expand between India and the UAE, as well as the Gulf region, more Indian companies are contacting the exchange to discuss a possible listing. They are attracted by the ease of trading on the exchange for regional and international investors and by the international regulatory environment, as well as the global visibility that Nasdaq Dubai offers.”
Ali pointed out that the GCC bloc is India’s largest trading partner and as such Indian businesses are increasingly active in the region.
"Capital markets links have been lagging behind but there is enormous scope for them to grow, including bringing investment from the GCC and around the world to Indian companies," he noted.
According to Ali, there was tremendous growth potential in terms of investment flows between India and the GCC.
"Alpen Capital has been very active in the GCC – India corridor and has closed a number of successful transactions in this sphere. We are happy to bring Nasdaq Dubai to India and we feel this is a great opportunity for Indian companies looking to become active in the GCC region," said Rohit Walia.
The exchange is working to set up a market for small and medium-sized enterprises (SMEs) with a straightforward listing process, making it an ideal listing venue for Indian high-growth businesses.
Larger companies are suitable for its existing market, which offers the same benefits as a listing on an international exchange elsewhere in the world.
Ali said Nasdaq Dubai offered Indian companies the same benefits as a listing on an international exchange elsewhere in the world, but closer to their base and in a zero tax environment.
"Its listing procedures are streamlined and efficient and listings can be denominated in dollars or other currencies," he added.-TradeArabia News Service
More Finance & Capital Market Stories
- Qatar sets up mixed business incubator
- Kuwait budget spending up 8pc in April-Jan
- Thomson Reuters to host Mena IFR awards
- ADIB offers smartphone industry investment
- Gulf Finance House to start $3bn Tunisia project
- KFH completes ICT project upgrade
- Egypt urban annual inflation slows to 9.8pc
- BIBF signs deal with Palestinian institute
- Bahrain’s GDP set to expand 12pc
- KFH-Bahrain rebrands priority banking
- Bank Nizwa wins top Islamic bank award
- Qatar labour costs may jump: IMF
- Kuwait Q3 trade surplus hits $23bn
- Dubai trade growth up 7.6pc to $362bn
- Deloitte appoints new managing director
- Al Ramz tops UAE trading in Feb
- IFC in $150m loan deal with Bank Audi
- SME funding focus for Abu Dhabi forum
- Insurance House posts second year of profit
- ETF global assets hit record $2.44 trillion
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia
- Singapore’s UOB Bullion and Futures joins DGCX
- Infrastructure investment ‘key to growth’
- BKIC declares 30pc dividend
- StanChart profit falls 16pc in 2013