Govt looks at options to allow listing of startups abroad

NEW DELHI: With an eye on listing of startups, the government is once again discussing plans to work out the rules for overseas issues by Indian companies, a move that may result in some of these entities’ listing in the GIFT City as well.

While the government had amended the Companies Act a few years ago, it has failed to notify the rules to allow for overseas listing due to resistance from the revenue department, which is not keen to deal with the issue of waiver of capital gains tax that would accrue following the listing of the shares. As a result of reluctance from the tax authorities,