Press releases 2010

- Company aims to raise $2.5 billion

London Stock Exchange today welcomed Essar Energy's announcement that it is to proceed with an initial public offering on the Exchange's Main Market.  

The company, one of India's fastest growing private sector power and oil and gas companies, hopes to raise gross proceeds of around $2.5 billion from its offering representing approximately 20-25% of the enlarged share capital of Essar Energy, which would make it the biggest Indian IPO in London.  On completion of the offer, it is expected that Essar Energy will be considered for inclusion in the FTSE 100 Index. 

Xavier Rolet, Chief Executive Officer, London Stock Exchange Group, said:

"I am delighted Essar Energy is planning to float in London, underlining the increasingly global profile of Indian industry.  Our Main Market, underpinned by the world's deepest pool of international capital, is a perfect fit for a firm looking to finance its ambitious growth plans.  Essar Energy's intended float here will give investors the chance to invest in India's strong projected growth through a leading energy company listed on the world's most international stock exchange."    

Essar Energy is an India focused energy company, established over 40 years ago by Shashi Ruia and Ravi Ruia, Chairman and Vice-Chairman of

the Essar Group respectively.  The operations of the Essar Energy will on admission comprise the power business and the oil and gas business currently held within companies owned by the Essar Group.

Essar Energy has a diverse portfolio of power, exploration and production and refinery assets, including the Vadinar refinery in Gujarat.  Currently India's second largest private sector oil refinery, expansion plans are expected to make the Vadinar refinery one of the largest and most complex refineries in the world.

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For further information, please contact:

Patrick Humphris / Alastair Fairbrother     

Press Office +44 (0)20 7797 1222

newsroom@londonstockexchange.com

Notes to editors

About London Stock Exchange Group:

London Stock Exchange Group is Europe's leading diversified exchange business, incorporating Borsa Italiana and the London Stock Exchange. With over 500 member firms and more than 3,000 companies quoted across its markets, the Group operates the largest and most liquid equity marketplace in Europe.

The London Stock Exchange itself is the world's most international exchange with more than 600 overseas companies from over 70 countries. These figures include international companies quoted on the Alternative Investment Market (AIM), the London Stock Exchange's growth market, and the world's most successful market for small and medium sized enterprises with over 1,200 companies.

The Group offers trading in a wide range of instruments, holding the number one position in the trading of exchange-traded products (ETFs and ETCs) and through its interest in MTS, is Europe's leading platform for the trading of fixed income products. Through the Order Book for Retail Bonds (ORB) and Mercato Telematico delle Obbligazioni (MOT) the Group also offers a comprehensive range of UK and European corporate and government bond trading services. Its Italian Derivatives Exchange Market (IDEM) sees over €2.5 billion worth of trading every day and through EDX London the Group provides a facility for the trading of Scandinavian and Russian equity derivatives.

London Stock Exchange Group also offers post-trade services such as netting, clearing and settlement on an efficient and competitive basis. These include services from Monte Titoli, the Central Securities Depository for all Italian financial instruments, and Cassa di Compensazione & Garanzia (CC&G), which in July 2009 was granted Recognised Overseas Clearing House (ROCH) status by the FSA to operate in the UK.

With the acquisition of MillenniumIT, the Group encompasses a leading developer of low cost high performance trading platforms and financial markets software serving both the industry and the Group's own businesses.

Since February 2010 London Stock Exchange Group has owned a majority stake in Turquoise, a Mulitlateral Trading Facility (MTF) providing pan-European lit and dark equity trading in some 1,700 securities across 17 countries.