The Hindu : Business : `FDI policy on SEs soon'

Online edition of India's National Newspaper
Saturday, Nov 18, 2006
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`FDI policy on SEs soon'

SEBI's initiatives have attracted record capital flows

LONDON: The foreign direct investment policy on Stock Exchanges in India will be announced soon, Securities and Exchange Board of India Chairman M Damodaran has said.

Delivering a special lecture on ``Transforming India's stock market for sustainable wealth creation'' organised by the World Council for Corporate Governance in the House of Lords last evening, Damodaran said India has emerged as the 12th largest market capitalisation in the world and it would soon overtake Korea in terms of largest market cap in Asia.

Securities institute

He said SEBI has made primary markets lucrative for retail investors.

``SEBI is the first regulator to introduce rating system for IPO (Initial Public Offering),'' he said.

Damodaran said a National Institute of Securities would be set up in Mumbai and it would be operational in the next 30 months.

He said during the last six months 240 Foreign Investors had registered in India with SEBI.

Madhav Mehra, President of the World Council for Corporate Governance said SEBI's initiatives under the leadership of Damodaran had resulted in India's market being recognised as among the best regulated in the world attracting record levels of capital inflows. — PTI

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