The International Financial Services Centers Authority on 16th July, 2021, has notified International Financial Services Centers Authority (Issuance and Listing of Securities) Regulations, 2021. These regulations shall apply to an initial public offer of specified securities by an unlisted issuer, a follow-on public offer of specified securities by a listed issuer, listing of specified securities by a start-up company or an SME company, secondary listing of specified securities, an initial public offer of specified securities by a Special Purpose Acquisition Company, rights issue and/or preferential issues by a listed issuer, listing of depository receipts, listing of debt securities, listing of ESG debt securities and issuance and/or listing of any other securities.
The underlying principles for an issuer to list its securities in IFSC are:
(a) There should be true, correct and adequate disclosure of material information in the offer document to
enable the investors to take informed decision.
(b) There should be full, accurate and timely disclosure of financial results, risk and other non-financial
information which is material to investors‘ decisions;
(c) All holders of listed securities shall be treated in a fair and equitable manner;
(d) The issuers shall maintain standards of quality, operations, management experience and expertise,
wherever applicable; and
(e) The directors of an issuer shall ensure to act in the interests of shareholders as well as other stakeholders.
