Mumbai, Sept. 23 -- Healthy valuations in the Indian markets are drawing global conglomerates with a significant presence in the country to list local subsidiaries and raise capital to fund their expansion, according to a top executive at JPMorgan.

"If you look at the valuation in India and the home country where the company (with a significant presence in India) operates, it's safe to say that they should be evaluating options to list their subsidiary in the Indian market and take advantage of the valuations here," Anu Aiyengar, global head of advisory and mergers & acquisitions at JPMorgan, told Mint.

India's valuations are at a premium to that of its emerging-market peers. Benchmark Nifty 50 is trading at 23.12 times its earnings com...