The Hindu Business Line : LSE makes a strong case before corporates

London Stock Exchange (LSE), which hopes to attract a growing number of Indian listing entities, today sought to make a strong case for its services before Kolkata corporates.

A cross-section of city-based companies and their advisors met a senior LSE official in charge of business development for India. Several of those who attended the meeting represented the services and manufacturing segments.

Mr Hugh Sandeman, the LSE representative, noted the potential of the Indian market, which is particularly relevant for AIM, the special platform offered by LSE for smaller, growth companies.

The emerging Kolkata scenario may be seen in context of the overall Indian trend, it is pointed out. As many as 23 local companies were now listed on the LSE, and a further group of 20 Indian entities listed elsewhere trade on its international order-book platform for GDRs. Incidentally, 10 players with operations in India are now on AIM.

AIM, the LSE official mentioned, has already attained a certain dimension for Indian corporates and the pipeline seems active. Vastly contrasting amounts were raised on AIM by Indian companies in 2005 and 2006.

As things stand, the amount raised on AIM has crossed the $1-billion mark.

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