XED Executive Development has shifted the date for its initial public offering (IPO) to March 16, 2026, amid geopolitical uncertainties in the Gulf region. The IPO will now be concluded on March 24, 2026. The launch marks a significant milestone as it is the first IPO to be initiated from GIFT City, India’s International Financial…
Only “permissible holders” can buy or sell equity shares of Indian public companies listed on IFSC exchanges, said Ketaki Mehta, partner, GIFT City at Cyril Amarchand Mangaldas. “Importantly, a permissible holder cannot be a person resident in India. Consequently, resident Indians, whether individuals or companies, are prohibited from purchasing or selling such shares on IFSC…
“Entities that remain inactive have been asked about their plans and, where there is no clear intent to operate, they may be persuaded to voluntarily surrender the license,” said an official, one of the three people quoted earlier, on the condition of anonymity. All three people quoted didn’t want to be identified. In three cases,…
GIFT City is set to launch its first IPO shortly, as XED Executive Development has submitted its Red Herring Prospectus to the Registrar of Companies after fulfilling the necessary regulatory requirements. The firm aims to raise $12 million through a dollar-based listing on international exchanges within India’s International Financial Services Centre, with the offering anticipated…
Global investing is often described as the “only free lunch” in finance, because it is one of the primary methods of diversification. The term was coined by Nobel laureate Harry Markowitz and refers to the ability to reduce portfolio risk by spreading investments across geographies without necessarily sacrificing expected returns. It might feel safer to…
The Gujarat government has appointed industrialist and veteran banker Uday Suresh Kotak as the chairman of GIFT City, according to an official resolution issued by the Urban Development and Urban Housing Department and reviewed by news agency ANI. Kotak will be replacing former bureaucrat Hasmukh Adhia, who had been serving as on-Executive Chairman of the…
