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With the primary markets in India perking up, listing of Indian companies abroad also seems to be showing signs of revival. And after the offerings of Adani Power and NHPC, power sector seems to be leading the pack abroad also. Indian Energy, a company which operates wind power assets across the country, was listed on London's Alternative Investment Market (AIM) earlier this month. Indian Energy raised £9.75 million (Rs 78 crore) before expenses through a placing of ordinary shares.

Indian Energy aims to have 300 MW of installed generating capacity by the end of the 2012/13 financial year. Presently it owns and operates a 24.8 MW wind farm at in Karnataka. Indian Energy has a strategy to acquire operational assets and construction ready projects where key permits are in place.

The company placed the shares at 80 pence, which were last traded at 84 pence yesterday. At the time of listing, the company had a market capitalisation of £20.28 million. Indian Energy plans to use the funds raised to acquire a new project of approximately 16.5 MW.

"The support received is a clear endorsement of the strong opportunity that Indian Energy has of becoming a major IPP player in the established and growing Indian wind power market," said Rupert Strachwitz, Managing Director of Indian Energy.

This would be the first listing of an Indian company on AIM in more than a year. Several Indian firms, especially in real estate space, had gone forward with an AIM listing in 2007 and early 2008. But after the market crash many companies became targets of increasing shareholder activism.

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