The International Financial Services Centres Authority, in its meeting held on April 17, 2026, approved multiple regulatory frameworks aimed at strengthening capital markets and financial ecosystem within GIFT IFSC. It introduced frameworks for Preferential Issues, Qualified Institutions Placements, and Rights Issues under the Listing Regulations, 2024, enabling listed entities to raise capital through structured and streamlined mechanisms. Additionally, the Authority approved amendments to facilitate Special Purpose Vehicle structures within IFSC to support leasing and financing activities, particularly in the aviation sector. These changes include enabling registration of Trust and Company Service Providers and SPVs, allowing end-to-end structuring of aircraft leasing transactions domestically. The reforms follow stakeholder consultation and aim to attract global investors, reduce offshore dependency, ensure regulatory compliance, and enhance governance. Overall, the measures are designed to deepen the financial ecosystem, improve capital access, and position GIFT IFSC as a competitive global aviation finance hub.
International Financial Services Centres Authority
IFSCA Authority Meeting
IFSCA Authority (Authority) was held on April 17, 2026. The Authority, inter alia, approved the following:
1. Framework for Preferential Issues and Qualified Institutions Placements (QIPs) under the International Financial Services Centres Authority (Listing) Regulations, 2024
The Authority approved the regulatory framework for Preferential Issues and QIPs under the International Financial Services Centres Authority (Listing) Regulations, 2024 to provide entities listed on recognised stock exchanges in IFSC mechanisms to raise additional capital.
2. Framework for Rights Issue under the International Financial Services Centres Authority (Listing) Regulations, 2024
The Authority approved the regulatory framework for Rights Issue under the International Financial Services Centres Authority (Listing) Regulations, 2024 to provide listed companies with a mechanism for raising capital through rights issue in a fast track and streamlined manner.
3. Enabling SPY Structure for leasing activities as permitted by Authority at GIFT IFSC
1. The International Financial Services Centres Authority (IFSCA) in its 28th meeting held on April 17, 2026 has approved the draft amendments to the IFSCA (TechFin and Ancillary Services) Regulations, 2025 and the IFSCA (Finance Company) Regulations, 2021, which are aimed at enabling the structuring of Special Purpose Vehicles (SPVs) entirely within GIFT IFSC for development of leasing and financing ecosystem.
2. Aircraft leasing ecosystem in IFSC has seen significant growth with more than 370 aviation assets leased from IFSC as at March 31, 2026. The amendments are aligned with IFSCA’s objective of developing GIFT IFSC as a globally competitive aviation finance hub, while facilitating the onshoring of India centric aircraft ownership and financing structures that are currently routed through offshore jurisdictions.
3. Global financial institutions prefer to extend financing for aircrafts through SPV structures, these SPVs are managed by the service providers known as ‘Trust and Company Service Providers (TCSP)’. The amendments will now enable registration for TCSPs under the IFSCA (TechFin and Ancillary Services) Regulations, 2025 and registration of SPVs under IFSCA (Finance Company) Regulations, 2021. The amendments will enable GIFT IFSC to offer end-to-end structuring of aircraft leasing transactions within India.
4. As part of this exercise, a public consultation paper was issued by the Authority on March 17, 2026, for inviting suggestions from the public and market participants. The Authority received comments from multiple stakeholders on various aspects, including TCSP recognition, capital requirements for SPVs, prudential norms, and resource sharing provisions. Based on stakeholder feedback and internal deliberations, the regulations have been modified appropriately.
5. The revised framework is expected to attract global lenders, investors, and lessors to finance aircraft through GIFT IFSC, retaining financing activity within India; reduce outflow of lease rentals, structuring fees, and SPV administration costs currently paid to offshore jurisdictions; create a regulated TCSP industry and high-skilled employment in legal, finance, and fiduciary services at GIFT IFSC; and ensure AML/KYC compliance, fit-and-proper assessments, and FATF-aligned standards through regulated TCSPs, strengthening governance and transparency. The amendments will strengthen the offering for aviation ecosystem in GIFT IFSC, will facilitate availability of capital at competitive cost and reinforce GIFT IFSC’s position as a hub for aviation finance.
The notifications will be released in due course on www.ifsca.gov.in
April 24, 2026
Gift City, Gandhinagar
