Elara Capital to float Indian Film Company Ltd on AIM mkt

RELATED NEWS Midcap space valuations look attractive: Elara Capital KLG Systel raises US$22mn through FCCB issue Nifty BSE | NSE 25/05/12 Are Mutual Funds betting on Nifty?

Elara Capital Plc , London today announced the successful completion of raising GBP 55 Million for The Indian Film Company Limited (IFC). The IFC will list on the Alternative Investment Market (AIM) of London Stock Exchange (LSE) on the 18th of June 2007. The Indian advisors to the transaction were Access Financial Services , a boutique investment banking and advisory firm in

India.

 

The Indian Film Company is promoted by the Network18 Group . The company will engage in production, distribution and owning IPR of Indian Films. Network18 group is renowned for its strategic tie‐ups with NBC , Viacom & Time Warner in India.

 

Mr. Raghav Bahl, Chairman of TV 18 Group said "Elara has successfully completed raising funds for the IFC and will be listing the same on the AIM Market on 18th June . This is the first overseas listing for the Network 18 Group and we are excited to be in a position where we can invest substantial capital in this growing and lucrative business of film production"

 

"We are thrilled to close this transaction for the Network 18 Group. The Group has a track record of creating shareholder value in their Indian listed entities and we are hopeful that the global investors in IFC will generate good returns on their investments. This will enable a greater appetite for Indian stocks among international fund managers," said Mr. Raj Bhatt, CEO of Elara Capital. 

 

The Alternative Investment Market (AIM) listing is an attractive proposition for Indian companies seeking to access foreign capital. In the last year eleven Indian or India‐focused companies have raised over £1bn on AIM and, it is expected that more than 20 Indian companies will float on London's junior exchange in 2007, jointly generating £2.5bn.

 

AIM has become a preferred destination for emerging market companies and has a very well diversified sectoral base, there is maximum representation from companies in media, financial services, metals and mining and oil & gas.

 

Mr. Ajay Pandey, Head of the Capital Markets at Elara Capital said "The Indian affair with the AIM can be traced to a few inherent advantages. The lower entry barrier, simple listing procedures and the perception of greater liquidity has made AIM an attractive destination for a lot of companies.

 

We are starting to see a few Indian mid‐market companies looking at AIM market. We understand the dynamics of the AIM market and the Indian business environment in general and are well positioned to serve the demand"

 

Sourced From: Elara Capital (India) Private Limited