By Sankalp Phartiyal and Nupur Anand
NEW DELHI (Reuters) – India’s potential plan to compel companies to do a secondary listing on an Indian stock exchange if they opt to first list on an overseas bourse would unfairly penalise Indian firms, according to a senior executive at fin-tech company Paytm.
“Companies should be allowed to list wherever they want. I think that would be good not just for the companies, but for the digital ecosystem,” Madhur Deora, a president of SoftBank-backed <9984.T> Paytm, told Reuters in an interview on Tuesday.
Deora’s comments come as India works on forging rules that would open the doors for Indian startups to list overseas and access deeper capital pools.
Earlier this month however, Reuters reported that New Delhi is also considering mandating an Indian secondary listing for any Indian company that opts to first list abroad, a move investors fear will harm valuations.