Many Indian companies in the infrastructure sector including a GMR subsidiary is looking at the option to take the reverse takeover route to get themselves listed on the Singapore stock exchange and save on listing costs.
Under the reverse takeover route, an Indian unlisted company will first acquire a listed company on the Singapore exchange. The Indian company then uses its shares to exchange for shares in the listed company and gets listed. This way the Indian company saves on the listing costs and the lengthy process to get listed on the Singapore exchange, a banker said. Full story
