Leading investors including Tiger Global, Sequoia Capital and Lightspeed have called on India's Prime Minister Narendra Modi to spur rules to allow companies to list overseas for better access to capital, according to a letter seen by Reuters.
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India in September allowed companies to list directly on foreign exchanges like the New York Stock Exchange or Nasdaq (NDAQ.O), but the government has yet to announce rules required to govern such listings.
Calling it an "unfinished reform agenda," some 22 investors and top Indian startups such as food-delivery app Swiggy and online tutoring firm Byju's wrote to Modi urging him to expedite the policy.
Swiggy and Sequoia declined to comment. Other entities, as well as Modi's office, did not immediately respond to requests for comment.
The new policy is seen as a shot in the arm for Indian unicorn start-ups valued at more than $1 billion and the digital unit of conglomerate Reliance, which is eyeing a US listing after raising more than $20 billion from investors last year.
