Local investors may get to sell shares in GIFT City’s secondary market
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…