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Govt assures top investors on Direct Overseas Listing, expresses concerns on startups flipping abroad

The Government's assurance on overseas listing comes months after some of India's best-known startup founders and investors had written to the Prime Minister's Office (PMO) urging the Centre to allow startups to list overseas

December 18, 2021 / 07:16 PM IST
StartUp | Representative Image (PC-Shutterstock)

StartUp | Representative Image (PC-Shutterstock)

A decision to allow Indian startups to list directly overseas will be taken soon, top government officials assured investors during a meeting chaired by Prime Minister Modi on December 17.

Prime Minister Narendra Modi hosted a roundtable interaction with representatives of Venture Capital and Private Equity Funds ahead of the Union Budget in February 2022.

At least two people part of the meeting told Moneycontrol that the issue of direct overseas listing was broached by multiple investors during the one-and-a-half-hour-long meeting.

"The government indicated that a decision will be taken soon. It is not clear if they will announce it with the Union Budget or before. They might insist on an India IPO after a startup has listed abroad," one of the persons cited above said.