Company Secretary
Many assume that the Securities Contracts (Regulation) Act automatically applies to IFSC listings of Indian companies. This article explains why that assumption is legally incorrect, how SCRA and SCRR concepts enter the IFSC framework in limited ways, and how careless drafting can create avoidable compliance and disclosure risks.
This article provides a clause-by-clause breakdown of a GIFT City Draft Red Herring Prospectus, explaining how IFSC DRHPs are actually drafted, reviewed, and commented upon by IFSCA. It focuses on disclosure logic, regulator expectations, and common drafting mistakes that distinguish offshore listings from Indian IPO documentation.
GIFT City listings are governed by a unified, IFSCA-led regulatory architecture that departs sharply from India’s SEBI-driven capital markets. This article explains how statutory authority, IFSCA listing regulations, and IFSC exchange rules interact in practice—and why understanding this structure is critical for drafting compliant offer documents and navigating regulatory review in GIFT City.
