3 India-related firms to list on AIM

Boosting India's presence in the fast growing Alternative Investment Market of the London Stock Exchange, three India-related companies are expected to make their debut on the bourse within next two months.

"We hope to see two or three issuers joining AIM by the end of this year," Ibukun Adebayo, manager (India and International), International Business Development of the London Stock Exchange told PTI.

India-related companies are those which are either Indian domiciled, or foreign firms holding Indian assets, or Indian/foreign promoted investment companies with focus on the country. Presently, there are 20 such firms listed on AIM.

The listing procedures related to those entities are said to be in advanced stages.

 Though tight-lipped on the names of possible entities, Adebayo pointed out that "we would expect the number of issues in 2007 to be the same as in 2006."

Last year, 10 India-related

companies were listed at AIM and as of July this year, the number stands at seven.

Currently, there are only two Indian domiciled firms on AIM -- Great Eastern Energy listed in December 2005 and Noida Toll Bridge that was listed in March 2006. Among the rest, 12 are Indian or foreign promoted investment companies, the latest addition being Dhir India Investments, which raised $50 million following its listing in July 2007.

Real estate investment company HIRCO, listed in December 2006, raised funds to the tune of 750 million dollars, the highest for any India-related firm. UTV Motion Pictures, Unitech Corporate Parks and Trinity Capital are also listed on AIM.