MCA has amended Companies Rues 2024 to set out that Negative Net Worth Companies Can List Through 75 percent Allocation

The MCA has amended the Companies (Listing of equity shares in permissible jurisdictions) Rules, 2024, to permit companies with negative net worth to access overseas listing, subject to a minimum 75% allocation of the net offer to qualified institutional buyers. 

The amendment also extends the framework to equity instruments, including convertible debentures and preference shares, introduces provisions for specified IFSC companies, revises certain eligibility conditions and substitutes Form LEAP-1.