Indian firms must list on more overseas bourses

Indian companies looking for overseas listings should list in new emerging markets, including Sedaq (Singapore), TSV-V (Canada), Nasdaq (the United States) and AIM in the United Kingdom, according to global consultancy firm Grant Thornton.

These new markets have provided investors with highest returns among any new global market for the past three year period, Grant Thornton Partner and Director-international business Vishesh Chandiok said.

"Such performance signals a polarisation among global new markets where a selected few have established themselves as growing successful entities," he said.

He said about two Indian companies are expected to list in these markets in the next one year.

In terms of attracting new listings during 2004, AIM was the best global performer with growth of 23 per cent in the average number of listed companies to 875 followed by SESDAQ's 16 per cent growth.

During 2004, AIM more than doubled its average market capitalisation while NASDAQ grew by above a quarter.