Chief Minister was speaking at opening of India’s first capital-raising platform for int’l investors
Yes Bank on Wednesday debuted $600 million bond on India INX at GIFT City in Gandhinagar. The bond issue was announced under its maiden USD 1 billion Medium Term Note(MTN) programme on Global Securities Market (GSM). The Chief Minister of Gujarat inaugurated bank's IFSC office at the GIFT City on this occasion of listing ceremony.
This would be India's first capital raising platform for international investors in any currency, located at the Gujarat International Finance Tec City (GIFT City) IFSC.
The CM Rupani said, "Gujarat has hardly 5% population of total population of India, but the state contributes 7% in the economy of the nation. The state has proved that if futuristic infrastructure is developed keeping future in mind, the same could be most preferred destination for the investments. This project of GIFT City will generate good number of jobs for the youth. The prime minister Narendra Modi has given great push to GIFT City project in terms of funds and other logistics. This will develop Gujarat as new economic center of India in days to come."
Commenting on this occasion, Rana Kapoor, MD & CEO, Yes Bank, said, "Yes Bank will use the proceeds to fund the bank's IFSC Banking Unit (IBU) in Gift City and expand IBU's rapidly growing business opportunities. IFSC received a major boost in the Union Budget with the proposed unified regulator and enabling tax benefits. YES BANK remains committed to the Government of India's vision of making India the preferred destination for investments."
S. Ravi, Chairman, BSE said, "IFSC at GIFT City has received new impetus in Union Budget this year. This will increase the momentum of growth and would attract the best of the global investors to consider IFSC in India to invest and trade in world's fastest growing economy. As the oldest bourse from Asia, BSE is excited to bring to global issuers and investors India's first international fund raising platform, Global Securities Market, which offers the very best in transparency."
GUJ MEANS BIZ
- This would be India’s first capital raising platform for international investors in any currency, located at the Gujarat International Finance Tec City (GIFT City) IFSC.
- Rana Kapoor, MD & CEO, YES BANK, said, “YES BANK will use the proceeds to fund the bank’s IFSC Banking Unit (IBU) in Gift City and expand IBU’s rapidly growing business opportunities.
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