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A Guernsey-incorporated fund in has raised almost £100 million to invest in India’s power and energy sector after a completing a dual listing.
KSK Emerging India Energy Fund has been valued at £101 million after its shares started trading on AIM and the Channel Islands Stock Exchange.
The proceeds, some £96.9 million, will be invested in equipment manufacturers and providers of engineering, design and construction services to the energy and power sectors on the subcontinent.
The IPO was managed by nomad Grant Thornton Corporate Finance, with Liberum Capital acting as KSK’s financial adviser and broker.
KSK’s directors include Huw Evans, Scott Bayman, Tanmay Das and Michael Liston.
Das, a non-executive director, said the fund is now well placed to grow its fund management business.
“Our investment pipeline continues to develop and we are confident of exposing the fund to a number of the future success stories in the sector, generating significant returns for shareholders along the way,” he added.
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