SGX launches Liaison Office in India

Indian issuers have raised US$60 billion in bonds listed on SGX.

The Singapore Exchange (SGX) is foraying into the Indian subcontinent with the establishment of its Liaison Office in India.

SGX today revealed that its Liaison Office in India has commenced operations with Neena Prasad as its Chief Representative following approval from the Reserve Bank of India.

SGX’s office in India will provide information and act as a communication channel to support capital raising by Indian companies in Singapore. Such capital raising can be achieved via listing of stocks, bonds, Real Estate Investment Trusts, business trusts and/or depository receipts.

The opening of SGX's India Office will also strengthen its partnership with the National Stock Exchange of India (NSE). The strategic partnership began in 2000 when the two exchanges collaborated to develop the international futures market. In 2007, SGX took a 5% minority investment in Bombay Stock Exchange (BSE).

Magnus Böcker, CEO of SGX, said: “The opening of our India Office re-affirms SGX's long-standing commitment to India. We will continue to strengthen our partnership with NSE as we grow the Nifty franchise internationally. As a stakeholder in BSE, we will support the exchange by bringing efficiency with new initiatives and IPOs. At the same time, our India Office will enable us to better support Indian enterprises seeking to raise capital as India is one of the world’s fastest growing economies with significant funding needs to support its growth and development. We look forward to working with partners in India to assist companies in reaching out to the international investment community. "

Indian issuers have raised US$60 billion in bonds listed on SGX, making India the third-largest issuer of SGX-listed bonds. These issuers cover a wide spectrum of sectors including banking and financial services, energy and commodities, property, healthcare, utilities, telecommunications and transportation. About 80% of listed international bonds by Indian issuers are listed on SGX. There are also five Indian companies listed on SGX.