Client Watch

  • Recent speculation regarding Essar Group’s potential $3 billion listing on the LSE, as reported in the Financial Times on 8th March, was the most notable name in an emerging trend of Indian corporates looking towards London.

     

    A recent article by DNA India notes comments by LSE officials last week that at least seven Indian companies were looking to list within the next few months. Grant Thornton partner, Fiona Owen, predicts a rush of over 70 Indian companies looking to issue equity on the exchange.

     

     The news provides a timely boost for the LSE, which is still reeling after Rusal’s rejection in favour of the Hong Kong Stock Exchange earlier this year. There are currently 31 Indian companies quoted on the three main LSE markets – AIM, PSE and International Main Market – with only 12 on the latter. Of these, only one company (CESC Ltd.) has ordinary shares listed here.