New Delhi, Jan 21 (NationPress) The wholly-owned subsidiary of the National Stock Exchange of India, NSEIX, announced on Wednesday that it has entered into a memorandum of understanding (MoU) with the Finance Industry Development Council to facilitate capital raising for non-bank financial companies (NBFCs) in GIFT IFSC.

The Finance Industry Development Council serves as a self-regulatory body for NBFCs.

This partnership is set to improve access to capital markets by aiding NBFCs in fundraising through the NSEIX platform and allowing the listing of NBFC-related debt and other financial instruments on NSEIX, which operates as an international multi-asset exchange in GIFT City, as per the official announcement.

The collaboration is designed to provide innovative debt and equity products via the NSEIX platform at GIFT City, addressing the ongoing funding needs of NBFC institutions.

“We are thrilled to form this strategic partnership with FIDC, aiming to streamline fundraising opportunities for NBFCs through GIFT IFSC. By utilizing our platform and FIDC’s extensive network, we aspire to open new paths for NBFCs, enhancing their access to capital, liquidity, and supporting their growth,” said V Balasubramaniam, MD and CEO of NSEIX.

“This is a pivotal moment for NBFCs in India seeking to raise capital. The establishment of this platform via NSEIX and the signing of the MoU with FIDC will empower NBFCs with global growth ambitions, offering a range of choices in capital, currency, instruments, structures, and, ultimately, long-term strategic planning,” stated Mahesh Thakkar, Chairman of FIDC.

With this new arrangement, NBFCs can now tap into foreign currency borrowings with improved tenor alignment, international bond issuances, structured debt instruments, and access to global institutional investors, alongside equity and quasi-equity options within the IFSC ecosystem.

Thakkar emphasized that this platform is essential for NBFCs concerned about perpetual funding needs, asserting that “capital is not merely money; it is confidence.”

NSEIX, situated in GIFT City, was founded on June 5, 2017, and is recognized by the International Financial Services Centres Authority. The exchange boasts a market share exceeding 99.7% in GIFT IFSC.

NSEIX provides various investment options, including Indian single stock derivatives, index derivatives, currency derivatives, depository receipts, and global stocks. It also offers an extensive array of primary market products, such as listings of equity shares, SPACs, REITs, InvITs, depository receipts, debt securities, and ESG debt securities.