About 15-20 Indian companies are planning to issue global depository receipts and list at the London Stock Exchange in the coming months.
"With the downturn in world market last year, not many companies have gone for raising capital. But with the number of enquiries we are receiving now, I think things are improving," Deborah Medley Foye -- country manager, LSE -- who is visiting India, told PTI in New Delhi on Tuesday.
About 50 Indian companies were eyeing the London market two years ago.
Foye, however, said many companies have decided not to go for LSE listing, while about 50 per cent of the companies had held back their plans following slump in the financial markets worldwide.
Merchant banking sources said 15-20 Indian companies were currently in the process of actually preparing for the UK-listing.
Sterlite Industries is one of the companies which are going to list their GDRs at LSE in the coming months; Tata Consultancy Service is also considering similar option.
Some of the companies, which planned to list at the New York Stock Exchange and Nasdaq, are now considering tapping the UK market instead.
"The shift may be due to the high compliance costs and punitive norms in the US," the merchant bankers said.
At present, there are 18 Indian companies like SSI Ltd, BSES, Crompton Greaves, East Indian Hotels, Indian Hotels, Gail, Raymonds and SBI that are listed at the LSE.