Dual listing not possible without full convertibility:
Experts
STAFF WRITER 10:47 HRS IST

New Delhi, Sep 20 (PTI) India w...
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Zee News September 22, 2009 Dual Listing Not Possible Without Full Convertibility

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SMC Capital Equity head Jagannadham Thunuguntla said, "If the government is committed for dual listing, it can be feasible. However, there are huge challenges and the process will take some time."

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Zee News September 22, 2009 Dual Listing Not Possible Without Full Convertibility

  1. 1. Dual listing not possible without full convertibility: Experts STAFF WRITER 10:47 HRS IST New Delhi, Sep 20 (PTI) India will have to amend host of laws and make rupee fully convertible before allowing dual listing of shares as is being proposed by the South African telecom major MTN. "Dual listing is not feasible in short term as there are amendments required in FEMA to allow full capital convertibility. These are major bottlenecks," Prime Database Chairman and Managing Director Prithvi Haldea said. Pointing out that dual listing is not popular globally, he said, "The government will have to amend Companies Act to allow dual listing, which is not allowed currently." Expressing similar view, SMC Capital Equity head Jagannadham Thunuguntla said, "If the government is committed for dual listing, it can be feasible. However, there are huge challenges and the process will take some time." He further said that there are many regulatory hurdles before it to become feasible.

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