Mortice is targeting a $100m (�51m) flotation on Aim in a bid to become the first Indian property and facilities management group to join London's junior exchange.

The company will start wooing potential investors in London before moving on to seek funds in Switzerland, Singapore and Hong Kong. It wants to come to market at the end of this month and raise about $25m.

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The company was founded 11 years ago and has grown to 15,000 employees and more than 500 clients across 19 Indian states. In the year March 2007, revenues doubled to $12.3m.

Manjit Rajain, Mortice's founder, will hold 75 per cent of the equity after flotation. He will use the funds raised to take the company into broader property and facilities management services across India.

He said the company had looked at several stock markets, including in India and Singapore, before deciding to come to Aim because it would be cheaper, quicker and at a higher valuation.

The non-executive directors include Keith Hellawell, the UK's former drugs tsar and former chief constable of  West Yorkshire Police.

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