Founders of homegrown start-ups like Byju’s, Cred, Urban Company and BharatPe have jointly written to Prime Minister Narendra Modi, urging the Government to allow direct overseas listing of Indian companies.
In their letter, the founders pointed out that the current inability of unlisted companies to tap international markets for raising capital is “an impediment to the growth ambitions of Indian start-ups as their access to wider global pools of capital is blocked”. “As a result, most Indian start-ups do not have a level-playing field with their counterparts in other global start-up hubs.”