Standard Chartered is considering listing shares

Standard Chartered said it is actively considering listing of its shares in India.

The UK-based global banking giant,Standard Chartered,on Thursday said it is actively considering listing of its shares in India and discussions were on with the relevant authorities in the country.

Besides,it is also exploring the possibility of listing itself in another emerging Asian market China,the banking behemoth said.

“Standard Chartered is actively considering listing of its shares in India via an issue of Indian Depository Receipts (IDRs) in order to grow brand presence and its business in this key market,” the bank said in its interim management statement for the third quarter of 2009.

Story continues below this ad

“We are working with the Indian authorities and a decision on timing will be taken in due course,” the bank said,adding,it was also exploring the possibility of listing in China.

Earlier this month,Standard Chartered’s India and South Asia CEO Neeraj Swaroop had said it has got approval from the Reserve Bank of India for the IDR listing and would approach the market regulator SEBI in due course.

Standard Chartered,which raised USD 1.6-billion in August by issue of new shares to support its business growth in emerging markets,could become the first foreign entity to list its IDRs in India.

exporters not lose market share, labour-intensive exporters, india us trade deal, Trump Tariffs, trump tariff impositions, India-US ties, trade war, us trade war, donald trump, reciprocal tariffs, Trump India trade deal, India US tariff cuts, Trump India tariffs announcement, India US trade agreement, Modi Trump trade talks, India US economic relations, India lowers tariffs for US, US India trade negotiations, Trump Modi tariff deal, India US import export policy, Trump on India tariffs, US India business ties, trade war India US, India trade policy changes, India US tariff reduction, Indian express news, current affairs

On Govt table: How to help exporters not lose market share due to 50% US tariff

Business35 min ago

The Indian government is implementing strategies to protect its market share from the impact of high US tariffs. This includes providing support to exporters through subsidies, loans, and credit guarantees, as well as helping them access domestic buyers. However, India's export growth to US is lower compared to its competitors, and the situation may worsen with additional tariffs on Russian oil.

View all shorts

Live Blog