Why Is Standard Chartered Considering An Indian Listing?

May 22, 2008 | by Pallavi S

This could be a first for a foreign bank in India. Standard Chartered, the largest foreign bank in the country, is looking to list itself on the local stock exchanges. This could also turn out to be the first MNC to issue Indian Depository Receipts (IDRs)—which are securities that can be traded in the local stock market.
According to a report in The Economic Times, the plan could partly be driven by banks in India fetching a better stock market valuation. If StanChart actually comes with a IDR, it would be its third global listing after the UK and Hong Kong. The bank has already sounded out market regulator Sebi for the IDR listing.