Startups write to PM Modi for nod to list overseas

A clutch of Indian startups have written to Prime Minister Modi seeking the government's approval to list overseas.

A letter written by founders and venture capital investors argues that overseas listing will allow Indian companies to tap in to a bigger pool of funds and raise their global profile.

These founders have said that while a large number startups are gearing up to list in India, especially after success of Zomato. Many companies are also looking to list internationally, especially to tap the bigger pool of capital and also to get a higher valuation because there are global benchmarks in these markets.

One of the concerns they have raised is that because of the lack of direct overseas listings, many startups are migrating to other markets.