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Four Indian Firms Float On AIM In Four Weeks

by Jason Gorringe,, London

13 June 2008

The London Stock Exchange announced on Tuesday that KSK Emerging India Energy Fund Limited had become the fourth Indian firm to float on AIM in the last four weeks. Between them the four new Indian firms have raised an estimated USD387mn.

KEF is a closed ended investment company established to make investments in companies engaged in the Indian power and energy sector.

On admission to AIM, KEF raised USD200mn, the largest AIM float to date in 2008. The other three Indian firms to have joined AIM over the past month are Indus Gas, OPG Power Ventures and Mortice Ltd.

Tracey Pierce, Head of Equity Primary Markets, London Stock Exchange Group, commented:

“With London now firmly established as the number one market for international companies it makes sound sense for Indian companies with global aspirations to look to join the London Stock Exchange."

"The four Indian firms that have chosen to go global through AIM over the last four weeks are now benefiting from access to the world’s deepest pool of international capital and a knowledgeable, outward looking, professional investor base, committed to serving emerging markets. The pipeline of growing, innovative Indian companies looking to admit to AIM remains strong.”

KEF’s arrival takes the total number of companies from India on the London Stock Exchange’s markets to 52, with a combined market cap of USD16.8bn.

In total Indian firms have raised USD5.3bn through flotations on the London Stock Exchange.

Trading in the secondary market also remains strong, with over USD5bn worth of trading in Indian securities on the International Order Book so far this year.

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