Indian firms targeted for UK listings

DOZENS of Indian companies are poised to float on the London Stock Exchange's junior market as part of its latest drive to win new international business.

Exchange officials who have just returned from a fact-finding mission to India are understood to be convinced that there is a demand for listings on Aim, the Alternative Investment Market.

At present, 18 of India's larger companies are listed on the full market in London, but the Exchange is looking to attract smaller businesses as well.

The majority of newcomers are expected to be from India's booming technology sector and are likely to be businesses listed on the Indian Stock Exchange.

There are relatively few hurdles for companies-from the sub-continent-who want to list in London, say analysts.

India has a similar legal system to the UK, while English is the language of business.

Dru Edmonstone of investment bank Seymour Pierce, part of Aim's mission to India, said: 'I think there will be a significant number of companies looking at what London can offer.'