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Fund powered up with AIM cash

By Mark Dunne on June 09 2008

A Guernsey-incorporated fund has raised almost £100 million to invest in India’s power and energy sector after completing a dual listing. KSK Emerging India Energy Fund has a market capitalisation of £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, says 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,' adds Das.

Click here to read about UK entrepreneurs who have expanded their businesses into India.

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