GIFT City Sees First Overseas Equity Listing Milestone as Cyprus Firm Eyes NSE IX Admission

NSE International Exchange Admits Ellinas Finance to Its Platform

Ellinas Finance, a Cyprus-based financial services company, is set to become the first overseas equity admitted to the NSE International Exchange (NSE IX) at GIFT City. This move marks an early step in the International Financial Services Centre's (IFSC) efforts to facilitate cross-border listings.

The admission follows a Memorandum of Understanding (MoU) signed in June 2025 between NSE IX and the Cyprus Stock Exchange (CSE) at the Global Securities Market Conclave 2.0. Ellinas Finance, already listed on the CSE's alternative market, has initiated the formal process for a secondary listing on NSE IX. Exchange officials confirmed the admission is expected next week, with the primary listing on the CSE remaining unchanged.

V Balasubramaniam, Managing Director and CEO of NSE International Exchange, highlighted this as the first cross-listing achieved in GIFT City, building on the MoU's focus on dual listings, product innovation, and bilateral market ties. Cyprus has been a notable source of foreign direct investment into India, with cumulative inflows of $15.3 billion and recent commitments around $1.5 billion over six months.

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India International Exchange (India INX) and NSE IX have also exchanged a MoU with the Taiwan Stock Exchange (TWSE). The agreement emphasizes information sharing, joint promotion, and exploration of cross-border products such as ETF listings and global access initiatives. With NSE, BSE, and TWSE ranking among the top global exchanges by market capitalization, the partnership aims to strengthen Asian market linkages and provide investors with broader choices through technology-driven platforms.

AFRINEX (Mauritius) and India INX have also signed a MoU, targeting facilitation of Indian instruments into African markets and vice versa, covering product development, information exchange, and expertise sharing. The exchange highlighted existing involvement of Indian companies and openness to further partnerships bridging India and Africa.