With the Cypriot company becoming the first overseas equity admitted to India's newly-created NSE International Exchange (NSE IX), the CEO of Ellinas Finance Public Company Ltd, Nearchos Petrides, notes, “This development represents a landmark moment not only for Ellinas Finance, but for the broader economic relationship between Cyprus and India.”
NSE IFSC Limited (NSE IFSC) is a fully owned subsidiary company of National Stock Exchange of India Limited (NSE) and applied to the SEBI for in-principle approval to establish an international exchange in Gujarat International Finance Tech City - International Financial Service Centre.
In exclusive statements to CBN, Petrides continues, “Becoming the first company to list its equity shares on NSE International Exchange is a responsibility we approach with discipline and long-term vision. It reflects the strength of our governance, the maturity of our operations, and our ambition to position Ellinas Finance within a more globally connected capital markets framework.”
The CEO goes on to elaborate, “While our listing on NSE IX is currently non-trading, the strategic value lies in international positioning, institutional visibility, and the strengthening of cross-border financial cooperation.”
“We remain firmly focused on execution: expanding our factoring and alternative finance services, accelerating our digital transformation, and later this year launching our lending mobile application, the first of its kind in Cyprus,” he continues, concluding, “This milestone reinforces our commitment to innovation, transparency, and sustainable growth.”
The news that Ellinas Finance would be the first overseas equity admitted to India's NSE International Exchange (NSE IX) at GIFT City was first revealed by the Indian press.
As noted in relevant reports , the move follows a Memorandum of Understanding signed in June 2025 between NSE IX and the Cyprus Stock Exchange (CSE) at Global Securities Market Conclave 2.0.
Ellinas Finance, already listed on the CSE's alternative market, has initiated the formal process for a secondary listing on NSE IX. Exchange officials confirmed the admission is expected over the coming days, with the primary listing on the CSE remaining unchanged.
In the reports, V Balasubramaniam, Managing Director and CEO of NSE International Exchange, described it as the first cross-listing achieved in GIFT City, building on the MoU's focus on dual listings, product innovation, and bilateral market ties.
Also commenting on the significant milestone, Viraj Kulkarni, Honorary Consul of the Republic of Cyprus in Mumbai, while speaking at the Global Securities Markets Conclave 2.0 in Gift City, said, "This, in effect, is the culmination of the MoU signed and announced last June (2025) in Nicosia by the leaders of both countries."
The reports, in addition, underlined that Cyprus has been a notable source of foreign direct investment into India, with cumulative inflows of $15.3 billion and recent commitments around $1.5 billion over six months. The country also ranks as a financial innovation hub in Southern Europe and holds the current EU Council presidency.
Ellinas Finance Public Company Ltd is a Cypriot public company with more than 25 years of experience and expertise in financing and other services.
Set up as a private company in December 1992 in Nicosia, it became a public company in February 2000. It is listed on the Cyprus Stock Exchange and its shares are traded under the symbol ELF.
The Group’s main activities are short term and medium term lending to individuals and companies through specially tailored personal and business loans, financing of investor accounts, factoring services, private equity in Cypriot and foreign companies, international money transfers through the Company’s network of more than 60 locations in Cyprus (through the MoneyGram International payment system), people advisory services (personal income tax, social security and immigration compliance /advisory services) and payroll outsourcing /advisory services.
