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SGX opens India liaison office in Mumbai

Singapore Exchange (SGX) said its India liaison office in Mumbai has begun operations following the receipt of approval from the Reserve Bank of India.

SINGAPORE: Singapore Exchange (SGX) said its India liaison office in Mumbai has begun operations following the receipt of approval from the Reserve Bank of India.

SGX said the India office 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 per cent minority investment in Bombay Stock Exchange (BSE).

According to the Singapore bourse operator, Indian issuers are the third-largest issuer of SGX-listed bonds, with some US$60 billion in total. On the stock market, the Indian listings include Mercator Lines Singapore, Indiabulls Properties Investment Trust and Religare Health Trust.

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