Indian BPO raises 37 million pounds in London

Stock exchange sources said with the listing of iEnergizer, the total number of Indian companies on AIM has gone up to 23.

iEnergizer that successfully raised £37 million, is one of the five largest IPOs on AIM so far this year. Its opening day market capitalisation is approximately £174 million, the stock exchange said.

iEnergizer is a full service BPO firm providing high-end back office support in banking, financial services, insurance, entertainment and telecommunications to companies based predominantly in the USA, Australia and India.

“iEnergizer’s debut is the latest example of how over the past five years AIM has become a popular equity financing source for companies from India’s high growth sectors such as infrastructure, conventional and renewable energy, and media and entertainment," said Ibukun Adebayo, Head of Business Development - India, Middle East & Africa, at the London Stock Exchange.

He added, "We hope to see many companies involved in India’s rapid economic growth take advantage of London’s deep pool of capital and the profile our markets offer over the coming years."

There are currently 67 Indian or India-focussed companies on the London Stock Exchange’s markets, which have collectively raised USD 7.5 billion. A record £82.5 billion was raised through new and further issues of equity on the London Stock Exchange during the course of 2009.

Over USD 10 billion has been raised by IPOs in London so far in 2010, with Indian companies accounting for over USD 2 billion, the stock exchange said.