Press release from Business Wire India
Source: Religare Capital Markets Limited
Monday, September 12, 2011 10:01 AM IST (04:31 AM GMT)
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Religare Capital to help Indian Companies IPO in London
Mumbai, Maharashtra, India, Monday, September 12, 2011 — (Business Wire India) — Religare Capital Markets Limited (RCML), the Investment Banking and Institutional Securities arm of leading emerging markets financial services group Religare Enterprises Limited, is organizing a series of seminars across India to help Indian corporates access the London Stock Exchange (LSE).
London can be a better venue for IPO depending on the sector, profile and size of the Company. There are specific demand pools which can be targeted for Indian Companies aiming to list in London. For companies looking to raise money for expansion, raising money through debt in India is expensive given the current high interest rate environment.
Religare Capital, by partnering with the London Stock Exchange, is looking to work with domestic companies wanting to raise equity capital from investors in offshore markets. In a series of high profile events across Mumbai, Bengaluru, Hyderabad and New Delhi, representatives from the LSE will be meeting with Indian companies that would like to learn more about the process of listing on the UK ‘AIM’ or ‘Main Market .
The Religare-LSE team is scheduled to meet over 100 domestic companies and discuss London listing options. The first of these meetings is scheduled on September 12 in Mumbai.
The LSE comprises the Main Market, its flagship market for larger, more established companies, where leading Indian companies such as Vedanta & Essar Energy are listed, and AIM, the world’s leading growth market for ambitious smaller companies, typically with an ongoing requirement to raise external equity capital.
Tarun Kataria, CEO, Religare Capital Markets India, said, “For Indian companies looking to raise capital, it is a good idea to list on AIM or the Main Market. The overseas market will provide the right depth and liquidity to the Indian corporate. We expect a good flow of companies from India and other emerging economies for LSE”.
In anticipation of this demand, Religare Capital Markets has recently integrated its established London Listings and Broking business with its global emerging markets platform for the benefit of emerging markets clients seeking access to London’s capital markets. The integration, synchronized with a string of senior level appointments, has also created one cohesive offering for investors and corporates.
In August 2011, Religare Capital Markets in London advised AIM quoted Noventa Limited, a mining company operating in Africa’s Mozambique, and on their behalf raised US$37.6 million.
In addition to Religare and the LSE, consulting major Ernst & Young, global law firm Dorsey & Whitney, and Indian law firm Dua Associates are also part of the team that is meeting with the Indian companies. The idea is to bring various advisors required for an offshore listing in one forum in order to answer any questions that Indian companies may have.
About Religare Capital Markets
Religare Capital Markets Limited (RCML) is part of Religare Enterprises Limited (REL) – a leading emerging markets financial services group. REL is committed to create in RCML a global emerging markets focussed investment banking and institutional securities business. RCML is continually adding to its suite of products and strengthening its team.
RCML comprises Religare Capital Markets plc (which is authorised and regulated by the Financial Services Authority and is a Member of the London Stock Exchange and the NASDAQ Dubai and acts as a broker for companies traded on the main and AIM UK Markets and is a PLUS Markets Corporate Adviser) and RCML (UK) Limited which is authorised and regulated by the Financial Services Authority and is able to act as Sponsor to companies on the Official List of the UK Listing Authority and as Nominated Adviser to AIM Companies. Currently, the principal areas of activity for RCML globally are institutional broking and research, Equity Capital Markets, M&A and in the UK, the firm also offers broking services to UK listed corporates.
Subhrangshu Neogi, Global, Religare Enterprises Limited, +91 (11) 39126165/ +91 9910993925, [email protected]
Samir Kapur, Religare Enterprises Limited, +91 (11) 39126174/ +91 9582805150, [email protected]
Ranjit Menon, Adfactors PR Pvt. Ltd., +91 9820075767, [email protected]
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