India’s stock market is gearing up for a leap thanks to an influx of retail investors seeking better returns and the lower barriers for small companies to join the market, said the South Asian country’s major stock exchange chief.“Even companies and startups which do not get funding from venture capitalists also end up listing directly sometimes,” Ashish Chauhan, managing director and chief executive of the National Stock Exchange of India (NSE), said in an interview with The Korea Economic Daily in Mumbai last week.
They topped 100 million in August.“We will have probably 500 to 600 million accounts (or people) … over the next 20 to 25 years,” said Chauhan, expecting more retail investors will join the stock market for a while driven by India's Prime Minister Narendra Modi's aggressive economic expansion policy.“They (retail investors) now want to invest in the stock market in addition to the fixed deposits or gold or real estate.
It became Hyundai Motor Group's first overseas entity to list on a foreign bourse.“We have a lot of foreign-origin companies whose subsidiaries have been listed in India for very long even before India became independent,” said Chauhan.“We don't differentiate between a company coming from abroad or from within as far as meets all criteria.”Korean electronics giant LG Electronics Inc.'s Indian unit recently submitted an IPO application for a preliminary review to the Securities and Exchange Board of India.
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