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Our Bureau

Mumbai, Oct. 18 The London Stock Exchange is seeking listing from India for its newly launched Specialist Fund Market (SFM), a regulated market for investment entities that seeks to raise funds from professional and institutional investors.

Specialised funds such as reality funds, private equity funds, infrastructure funds can list in SFM segment of the London Stock Market. The new market will be open for admissions from November 1.

“The Specialist Fund Market is London’s response to the emerging demand for a regulated market for alternative assets and complex investment entities that are appearing not only in developed economies but also in high growth ones such as India and China,” said Mr Ibukun Adebayo, London Stock Exchange’s head of business development, India and international here on Wednesday.

The market will meet demand from both issuers and institutional and other professional investors for access to a regulated market in London that provides sufficient flexibility for specialist vehicles, he said.

Through the SFM, Indian issuers of non-conventional funds such as private equity funds, complex property and infrastructure funds and investment structures with special class securities such as non-voting shares, will for the first time have access to a dedicated market appropriate to their needs, said Mr Adebayo.

“We already provide Indian issuers a choice of markets on which to finance their growth plans. Many companies and conventional fund structures from India have already found a ready home in AIM, in the Professional Securities Market and on our main market,” Mr Adebayo said.

“There is an ever-growing demand from institutional and professional investors to access alternative asset classes and the Specialist Fund Market will allow major players to continue to invest in important sectors in India like infrastructure and real estate.

Such investors are also going to be more comfortable committing their capital to investment funds traded on a liquid market that requires them to demonstrate European standards of disclosure and transparency,” he said.

The market will be a regulated market operated in accordance with European Union Directives. Mr Adebayo said that Indian companies are increasingly accessing global investors and liquid trading of global depository receipts through listing in the UK and admitting to trading on the London Stock Exchange.

There are 24 Indian companies listed in the UK and admitted to the London Stock Exchange.

A further 12 Indian companies that listed on other international stock exchanges trade on the London Stock Exchange. And there are now 20 India focused companies on the AIM market.

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