After K Raheja's listing on the London Stock Exchange, Hiranandani Constructions plans to raise upto USD 750 million with the biggest offering by an Indian developer on the LSE, reports CNBC-TV18. 

Indian developers are flocking to London and listing on the alternative investment market, or AIM, of the London Stock Exchange. That's the LSE's international market for small  companies.

After K Raheja Corporation managed to raise USD 342 million through its property investment company, Ishaan Real Estate, Hiranandani Constructions are next in line and looking to raise between USD 500 and USD 750 million on the LSE.

For builders such a listing is an alternative to the tight liquidity market in India. The rules are simple and the listing is quick-no minimum requirements for public share-holding patterns, trading records or market capitalisation are needed on the LSE. 

"The need of the hour for the Indian developer is to access capital, relatively cheap and quick capital for market expansion. The demand fundamentals are strong and in that environment this is an alternate route which many developers are exploring and considering" says Chanakya Chakravarthy, Joint MD, Cushman & Wakefield.

Hiranandani Constructions reportedly plans to use the money to develop 5 projects in Mumbai, Chennai and Jaipur, including an I-T special economic zone. The projects will be developed per FDI compliant norms.

The listing of Indian realty companies on the LSE will not only provide developers with easy liquidity, but will also make it simpler for overseas investors to take part in India's booming property market.