NASDAQ Dubai visited India on 8th and 9th April, 2013 following a growing number of enquiries by Indian companies about how to raise capital on the Middle East’s international exchange.
The visit was organised by the investment bank, Alpen Capital, given its expertise in both the GCC and Indian markets. Alpen Capital has assisted a number of Indian companies looking to grow in the GCC region through strategic acquisitions, raising capital or partnering with high profile companies. Alpen Capital partnered with the Federation of Indian Chambers of Commerce and Industry (FICCI) to introduce NASDAQ Dubai to Indian businesses and prospective issuers.
The visit has enabled NASDAQ Dubai to meet a number of Indian companies in Mumbai and New Delhi that have strong links to the Gulf Cooperation Council (GCC) region. The companies are exploring options to raise capital through equity, including global depository receipts (GDRs), as well as through debt, exchange-traded funds, real estate investment trusts (REITs) and other products.
The delegation to India included Craig Hewett, Senior Vice President and Head of Business Development of NASDAQ Dubai and Rohit Walia, Executive Vice Chairman & CEO of Alpen Capital.
Hamed Ali, Acting Chief Executive of NASDAQ Dubai, said: "As business links expand between India and the UAE, as well as the Gulf region, more Indian companies are contacting NASDAQ Dubai to discuss a possible listing. They are attracted by the ease of trading on the exchange for regional and international investors and by the international regulatory environment, as well as the global visibility that NASDAQ Dubai offers."
He continued: "The GCC countries combined are India’s largest trading partner and Indian businesses are increasingly active in the region. Capital markets links have been lagging behind but there is enormous scope for them to grow, including bringing investment from the GCC and around the world to Indian companies."
There is tremendous growth potential in terms of investment flows between India and the GCC. Alpen Capital has been very active in the GCC – India corridor and has closed a number of successful transactions in this sphere. We are happy to bring NASDAQ Dubai to India and we feel this is a great opportunity for Indian companies looking to become active in the GCC region said Rohit Walia, Executive Vice Chairman & CEO, Alpen Capital.
The exchange is working to set up a market for small and medium-sized enterprises (SMEs) with a straightforward listing process, making it an ideal listing venue for Indian high-growth businesses. Larger companies are suitable for its existing market, which offers the same benefits as a listing on an international exchange elsewhere in the world.
NASDAQ Dubai offers Indian companies the same benefits as a listing on an international exchange elsewhere in the world, but closer to their base and in a zero tax environment. Its listing procedures are streamlined and efficient and listings can be denominated in dollars or other currencies.
View the gallery of photos taken during the event below: