Alfa Capital became the first company admitted to Indian exchange trading
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On February 13, the Securities Board of India registered the management company (MC) Alfa Capital as a foreign portfolio investor. The structure of Alfa Group became the first Russian company admitted to Indian exchange trading.
As explained RBC in the Criminal Code, the permission of the Indian regulator will allow the company to conduct transactions on the Bombay and National exchanges. Alfa Capital will conclude an agreement with the provider Orbis Financial Corporation.
Although exchange settlements will be conducted in rupees, the clients of the management company will receive income in rubles. “The conversion will take place outside the Russian infrastructure, through our counterparties. That is, we will withdraw rubles from Russia and return rubles as well. There will be no cross-border transfers in rupees, because this is a complicated procedure, ”Irina Krivosheeva, CEO of Alfa Capital, explained to the publication.
The minimum entry threshold for qualified investors under a managed strategy is set at RUB 1 million. Management of the Management Company expects to gradually reduce the investment threshold and form strategies for retail clients.
In December, it became known about the plans of the SPB Exchange expand offering securities of issuers from unfriendly jurisdictions, including listings in Brazil, India, Mexico, Uzbekistan and South Africa. Analysts consider India to be one of the most promising areas due to high GDP and population growth rates.
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