V. Balasubramaniam, MD and CEO, India INX
said, “We welcome ReNew Power
on India INX
and take even more pleasure in welcoming them as they have established a gateway for other Indian issuers to list exclusively on India’s own IFSC. This firmly reinforces INDIA INX
and GIFT IFSC as a credible and competitive international jurisdiction for raising capital from global investors."
GSM, the primary market platform of India INX, has more than $50 billion medium term notes established and over $26 billion of bond listings till date.
Sumant Sinha, Founder, Chairman and CEO of Renew Power
said, “The success of our bond issue demonstrates continued global investor interest in the ESG space. Investors are keen to invest in environment friendly companies
and projects that contribute towards a greener planet and will enable India to meet its decarbonization goals. ReNew has raised nearly $1.37 billion dollars through bonds issued in the last 6 months.
The INX exchange provides a common platform for all asset classes - equities, currencies, commodities and interest rates. The exchange also offers a primary market platform for debt securities and proposes to offer additional fund raising facilities like depository receipts once the required infrastructure is in place. The exchange being located in IFSC, GIFT City and provides benefits in security transaction tax, commodity transaction tax, dividend distribution tax and long-term capital gain tax waivers and no income tax.
Injeti Srinivas, Chairperson, IFSC Authority said, “Indian companies
are regular issuers in the global capital markets and GIFT IFSC offers such issuers a competitive platform for raising capital from the global investors. This exclusive listing foreign currency bonds by Renew Power further reinforces the positioning of GIFT IFSC as a competitive international jurisdiction for raising capital and will be instrumental in deepening of not only debt capital market but also Equity, REITS/Invits and other instruments in international exchanges based in GIFT IFSC."
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