"The growing appetite for the Indian as well as India-focussed companies continues unabated, and in the next two weeks two unlisted companies from the country are going to raise close to $200 million," Ibukun Adebayo, manager, International Business development (India and International), London Stock Exchange said.
As many as 21 Indian companies including Hirco, Unitech Corporate Parks, Noida Toll Bridge and Eros International have tapped the AIM, he said while talking at a investors' meet on 'Opportunities for Indian Corporates in the Foreign Capital Markets'.
Without disclosing the names of the Indian companies, Adebayo said the two firms, which have proposed to raise funds hail from media and the real estate sector.
It is understood that Ronnie Screwvala, founder of UTV and Bafta-nominated film producer Roger Parry are planning to launch a $150 million fund at London Stock Exchange with a view to cash in India's fast-growing
media sector.
On being asked why more and more Indian firms were raising funds at the AIM, he said, ample demand for funds in Indian economy coupled with lenient eligibility criteria at AIM contributed to the beeline for Indian firms seeking London listing.
"We don't ask for any track record for positive net profits from growing companies," Adebayo said adding that last year companies raised a total of $26 billion at AIM. For instance, Noida Toll Bridge, which was reporting net losses raised $50 million at AIM, thereby becoming the first Indian-listed company to raise additional funds there.
"There is a very healthy pipeline of Indian companies, which are expected to raise funds at AIM and we are looking to closely work with investment advisory community to attract more Indian firms," Abedayo said.
