Jubilant become 5th Indian co to list on AIM in last 10 weeks

"Indian oil explorer Jubilant Energy has become the fifth Indian company to float on AIM in the last ten weeks. Between them the five new Indian admissions have raised an estimated USD 344.4 million," LSE said in a statement here.

"This flurry of new Indian admissions by five diverse, ambitious and growing companies highlights the increasingly central role India is playing in the global economy, and how London can provide the capital to match the country's appetite for growth," LSE Director of Equity Primary Markets Tracey Pierce said.

On admission to AIM, Jubilant Energy raised USD 85 million, the third largest AIM IPO till date in 2010, it said. In a regulatory filing, the company said the entire issued share capital comprising 41.63 crore ordinary shares of 0.01 euro each, has been admitted to trade on the AIM market of the London Stock Exchange (LSE).

"We are delighted to be admitted to trading on the AIM market in London. We are now funded to develop our initial work programme and to tap into the incredible demand for energy in India," Jubilant Chief Executive Officer Ajay Khandelwal said. The proceeds of the listing, would be used to progress Jubilant's exploration and development of oil and gas assets, to accelerate its ongoing and future exploration programme and for general corporate purposes, Jubilant had earlier said.

The other four Indian firms to have joined AIM over the last 10 weeks are iEnergizer who got listed on September 14 raising USD 57 million, SKIL Ports & Logistics on October 7 raising USD 120 million, Caparo Energy on October 12 raising USD 80 million and Photon Kathaas on November 4 raising USD 2.4 million.

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