Noida-based iEnergizer on Tuesday became the first Indian BPO to list on the Alternative Investment Market (AIM) of the London Stock Exchange and raised 37 million pounds on the first day.
Stock exchange sources said with the listing of iEnergizer, the total number of Indian companies on AIM has gone up to 23. IEnergizer that successfully raised £37 million, is one of the five largest IPOs on AIM so far in 2010. Its opening day market capitalisation is approximately £174 million, the stock exchange said.
IEnergizer is a full service BPO firm providing high-end back office support in banking, financial services, insurance, entertainment and telecommunications to companies based predominantly in the USA, Australia and India.
“iEnergizer’s debut is the latest example of how over the past five years AIM has become a popular equity financing source for companies from India’s high growth sectors such as infrastructure, conventional and renewable energy, and media and entertainment," said Ibukun Adebayo, head of Business Development — India, West Asia & Africa, at the London Stock Exchange.
He added, "We hope to see many companies involved in India’s rapid economic growth take advantage of London’s deep pool of capital and the profile our markets offer over the coming years."
There are currently 67 Indian or India-focused companies on the London Stock Exchange’s markets, which have collectively raised $7.5 billion. A record £82.5 billion was raised through new and further issues of equity on the London Stock Exchange during the course of 2009.
Over $10 billion has been raised by IPOs in London so far in 2010, with Indian companies accounting for over $2 billion, the stock exchange said.