The Nasdaq is all out to woo Indian companies listed on other US exchanges to seek dual listing. Nasdaq has said it will waive listing fees for the first year if the companies seek additional listing on the Nasdaq.
Nasdaq is expecting Indian companies listed on the New York Stock Exchange to seek additional listing on the Nasdaq after the recent agreement between the two exchanges to permit cross listing.
The expectation stems from the fact that NYSE last year lifted the ban on companies listed on the exchange to list on any other exchanges in the US.
"This will give listed companies, in search of alternatives to the NYSE floor, a viable option for trading of their stocks," Peter Yandle, senior managing director, international marketing, Nasdaq said. "We have been talking to companies across all sectors in India to tap the opportunity of dual listing," he said.
Currently, the American depositary receipts of seven Indian companies are listed on the NYSE and three on the Nasdaq.