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LSE in talks with 50 Indian firms for listing

The London Stock Exchange said on Friday that it was in talks with about 50 Indian companies in diversified businesses, including "divestment PSUs", for listing on the premier bourse.

"Right now, we are talking to about 50 Indian companies. These belong to a mix of old economy and new economy sectors like oil and gas, pharma, biotech, technology, banking and divestment PSUs," LSE chief executive Clara Furse said in New Delhi.

She, however, declined to identify the companies nor gave any time frame for their listing saying it would depend on the market environment and restoration of investor confidence.

There are 18 Indian companies currently listed on the LSE as against three on the US-tech heavy Nasdaq exchange while New York Stock Exchange has eight Indian firms.

Outlining the performance of Indian firms on the LSE, Furse said in the first six months this year, the amount of trading done by the 18 Indian companies jumped by 13 per cent to about Rs 35000 crore (Rs 350 billion) despite adverse market conditions.

"We want to see Indian companies on the LSE. We would like to create a bridge so that they can walk on it to London," she said.

Furse said a strong regulatory framework, good corporate governance and a special Indian desk as the ideal incentives for Indian companies to list on the LSE.

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