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LSE invites Indian firms to raise capital
By agencies
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Friday, 11 March 2005, 20:30 IST
NEW DELHI:The London Stock Exchange (LSE) has asked Indian companies to raise capital from the stock exchange saying western investors are keen to invest in shares of growing Indian companies.
Martin Graham, director of Market Services at LSE, said, "Western investors are demanding more exposure to Asia's economic powerhouses and impressive businesses that are springing up here and elsewhere. It's no surprise that western investors want access to your companies."
Graham said India's economy grew by 6.9 percent in 2004 in contrast to Europe's 1.8 percent. "India is growing fast and everyone seems to want a piece of the action."
Currently 18 Indian companies, with a combined market capitalization of $2.94 billion, are listed on the LSE.
"We believe there is an abundance of successful companies in India, with strong potential for listing on an international exchange. And this could give vital access to deeper pools of capital for expansion," said Graham.
Think London, a part of the UK Trade & Investment released a report "Indian Communities in London", which said Indian-owned businesses represent 5 per cent of London's economy.
The report said India is the second largest investor in the UK from Asia and London attracts half of all Indian investments into Europe.