GIFT City Gandhinagar: Indian Oil Corporation Limited listed their foreign currency bonds in IFSC today. The securities of value SGD 400 Mn and USD 1.4 Billion, issued in 2012, 2013 and 2019 respectively were now listed on Global Securities Market platform of India INX.

Commenting on the listing, Mr. V. Balasubramaniam, MD and CEO, INDIA INX said, “This is IOCL’s first listing at India International Exchange and we take pride in welcoming Indian Oil – The Energy of India on board India’s leading and first Exchange in IFSC. Raising of funds from global investors through IFSC has been long discussed in India and is aligned to Hon’ble Prime Minister of India, Shri Narendra Modi’s vision that he laid out during inauguration of India INX i.e. to make financial markets at IFSC competitive with global IFCs. We are very positive that with the proactive measures taken by the Government and IFSCA, more issuers will tap the global bond market in the near term and India INX will continue to be the most preferred listing platform for issuers. We look forward to a long lasting relationship with Indian Oil Corporation in growth of Indian IFSC sector.”

India INX introduced the Global Securities Market (GSM) platform, which is a pioneering concept in India, offering issuers an efficient and transparent method to raise capital. The platform offers a debt listing framework at par with other global listing venues such as London, Luxembourg, Singapore etc. Till date, Global Securities Market has established USD 55+ billion in MTN programmes and more than USD 29+ billion of bonds issued. Issuer mix is a healthy one with Banks (SBI, EXIM Bank, HDFC Bank), supranational (Asian Development Bank), State owned finance corporations (NTPC, PFC, REC) and several others (Adani Green, Adani Port). Further India INX is also a market leader in the derivatives segment and for August 2021, the market share of India INX stood at 83%.

Commenting on the listing, Mr. Manoj Kumar, Executive Director, IFSCA said, “We congratulate Indian Oil Corporation for becoming a part of IFSC community .We are enhancing the global competitiveness of IFSC by developing complete sustainable finance ecosystem and innovative product offerings. We are committed to provide vibrant financial services ecosystem to attract foreign investment to make GIFT IFSC a global financial hub”.

Commenting on the listing, Mr. Sandeep Kumar Gupta, Director Finance, Indian Oil said, “We are extremely delighted to be here on the momentous occasion of the listing ceremony of Indian Oil’s Foreign Currency Bonds of USD 1.4 billion and SGD 400 million on NSE IFSC and India INX Exchanges. The advent of IFSC at Gift city has provided an opportunity for Indian Companies to access offshore funds within India and we believe that today’s listing of our bonds is a step in that direction.”