The development follows the Memorandum of Understanding (MoU) signed in June 2025 between NSE IX and the Cyprus Stock Exchange (CSE) during Prime Minister Narendra Modi’s visit to Cyprus. | Photo credit: VIJAY SONEJI
“This is the first cross-listing in GIFT City,” said V Balasubramaniam, Managing Director and CEO, NSE International Exchange business line confirming that the Cyprus-listed company will debut on NSE IX next week. Ellinas Finance is a Cyprus-based financial services company.
Echoing the significance, Viraj Kulkarni, Honorary Consul of the Republic of Cyprus in Mumbai, at the Global Securities Markets Conclave 2.0 at GIFT City, said: “Congratulations on the completion of the Expression of Interest for the listing of shares of Ellinas Finance on NSE IX. I understand that the listing will take place next week. This will be the first cross-border listing of shares between the two countries.”
A dual listing allows a company to list its shares on two different exchanges simultaneously, allowing investors to trade the same shares in multiple jurisdictions. Ellinas Finance’s listing is positioned as a test case for such cross-border capital flows through India’s International Financial Services Center (IFSC).
The development follows the Memorandum of Understanding (MoU) signed in June 2025 between NSE IX and the Cyprus Stock Exchange (CSE) during Prime Minister Narendra Modi’s visit to Cyprus. The agreement laid the foundation for cross- and dual-listing collaboration, joint product development, research collaboration, fintech involvement and investor access to a broader pool of financial instruments.
On Thursday, the Taiwan Stock Exchange signed bilateral MoUs with both the NSEIX and India INX exchanges at GIFT City. “The MoU with the Taiwan Stock Exchange is more exploratory in nature. Taiwan has a number of larger semiconductor companies whose subsidiaries have operations in India. We are exploring whether some of them can be listed here,” NSEIX’s Balasubramaniam said.
A similar MoU was also signed between AFrinex, Mauritius and NSEIX. Afrinex is a pan-African financial exchange headquartered in Mauritius, established to operate as a multi-currency, multi-asset securities exchange, serving investors and issuers across Africa and beyond.
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Published on February 26, 2026
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