Adani Electricity Mumbai has listed its $ 2 billion Global Medium Term Note (GMTN) program on India INX’s Global Securities Market (GSM) platform at GIFT-International Financial Services Center (IFSC), Gandhinagar, according to a statement. official.
With the latest addition, total MTN listings on India INX’s GSM platform reach $ 52.57 billion.
V Balasubramaniam, MD & CEO, India INX, said: “Our competitive listing guidelines and transparent processes have enabled more and more issuers to register on our platform. We thank Adani Electricity for trusting India INX IFSC and this is one more step in realizing the vision of the Indian government to make GIFT IFSC the hub to enjoy all the services that were not until now only available abroad.
The GSM platform
Since its launch in January 2018, India INX’s GSM platform has grown to become the largest bond listing platform at GIFT IFSC.
To date, Global Securities Market has established $ 50.6 billion in MTN programs and over $ 27.4 billion in bonds issued with 69 issues.
Issuers include major banks including State Bank of India (SBI), EXIM Bank, Asian Development Bank, as well as public finance companies NTPC, PFC, REC and others like Adani Green, Adani Ports and SEZ.
The average daily turnover of the India INX exchange for the month of June 2021 was $ 13.44 billion, with a 91% market share among the IFSC exchanges.
The GSM platform offers a framework for debt listing at the same level as other global listing places such as London, Luxembourg, Singapore, etc.