Indian cos raise $2.7 bn on AIM in 2006

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Tuesday , October 09, 2007 at 2032 hrs India-related companies and investment funds raised to the tune of 2.7 billion dollar on the Alternative Investment Market (AIM) in 2006.

Out of the total amount, nearly two million dollar was raised by real estate funds, promoted by Indians.

These figures were revealed today during a seminar 'The Alternative Investment Market: Opportunities for Indian Companies' which was organised by the Confederation of Indian Industries (CII) and law firm Amarchand Mangaldas here.

AIM is the London Stock Exchange's international market for smaller growing companies. It was launched in 1995 and has raised about 26 billion dollar in 2006 alone.

"AIM has witnessed substantial growth in recent times and also offers wider investor base and higher liquidity for the companies. Currently, it has about 36 individual industry sub-sectors," said Ibukun Adebayo, Manager (India and International), International Business Development of the London Stock Exchange.

According to him, in order to have better liquidity, the firms should be able to ensure a good initial distribution of shares (among different shareholders) and also have a good coverage from the analysts.