Indian stocks outperform others on LSE
Wednesday, 28 April 2010
LONDON, Apr 27 (PTI): Indian companies listed on the London Stock Exchange (LSE) continued to outperform others in the first quarter of 2010, with industry observers expecting more Indian entities to list on the exchange to raise funds in the near future.
Share prices of Indian companies listed on LSE continue to outperform both the AIM All-Share and the FTSE 100, according to India Watch, a quarterly review due to be released by business and financial adviser Grant Thornton.
AIM is the LSE's international market for smaller growing companies.
A wide range of businesses, including early stage, venture capital backed as well as more established companies join AIM seeking access to growth capital.
The adviser said a host of Indian companies were closely watching Indian energy major Essar Energy's planned 1.6 billion pound listing of a minority stake to decide if they too should seek a listing in London.
Anuj Chande, head of Grant Thornton's south Asia group, said: "The outstanding performance of Indian firms listed in London is encouraging other Indian firms to look into raising funds here.
In early March, more than 70 Indian firms attended a roadshow hosted by the London Stock Exchange in New Delhi, Mumbai and Hyderabad."
He added: "A lot of these will be holding their breath to see if Essar Energy can pull off the biggest primary listing that London has seen in ten years."
Chande said Grant Thornton was in advanced negotiations with another Indian power provider for an initial public offering it planned in London later this year.
Ten more Indian companies were planning to raise capital in London this year, he revealed.
Share prices of Indian companies listed on LSE continue to outperform both the AIM All-Share and the FTSE 100, according to India Watch, a quarterly review due to be released by business and financial adviser Grant Thornton.
AIM is the LSE's international market for smaller growing companies.
A wide range of businesses, including early stage, venture capital backed as well as more established companies join AIM seeking access to growth capital.
The adviser said a host of Indian companies were closely watching Indian energy major Essar Energy's planned 1.6 billion pound listing of a minority stake to decide if they too should seek a listing in London.
Anuj Chande, head of Grant Thornton's south Asia group, said: "The outstanding performance of Indian firms listed in London is encouraging other Indian firms to look into raising funds here.
In early March, more than 70 Indian firms attended a roadshow hosted by the London Stock Exchange in New Delhi, Mumbai and Hyderabad."
He added: "A lot of these will be holding their breath to see if Essar Energy can pull off the biggest primary listing that London has seen in ten years."
Chande said Grant Thornton was in advanced negotiations with another Indian power provider for an initial public offering it planned in London later this year.
Ten more Indian companies were planning to raise capital in London this year, he revealed.