India's overseas listing rules to be delayed as government irons out tax issues

India's overseas listing rules to be delayed as government irons out tax issues

Trading floor of the New York Stock Exchange (NYSE).

India will take around six months to announce rules allowing companies to list overseas, taking longer than some expected as the finance ministry irons out issues related to taxation, two government officials and four industry sources told Reuters.

The delay is likely to dampen hopes of investors like Tiger Global, Sequoia Capital, Lightspeed and many Indian startups who last month urged Prime Minister Narendra Modi to swiftly announce rules governing foreign listings that were given the go-ahead almost a year ago.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter