12/10/2010 The London Stock Exchange welcomes Caparo Energy Limited to AIM
Caparo Energy Limited is a company focused on becoming one of the leading independent power producers in India.
The Group will seek to generate predictable and long-term cash flows by building up a portfolio of wind power generating assets in the Indian wind energy market.
Caparo Energy Limited intends to acquire and develop a portfolio of wind farms with a target total annual installed capacity of up to 5,000 MW, which it intends to develop in two phases: In Phase I, the Group has successfully negotiated a business partnership agreement with Suzlon, a leading wind turbine generator manufacturer, to acquire 3,000 MW with a target completion date of 2016. Phase II consists of 2,000 MW with a target completion date of 2017.
Shares will be quoted on the AIM market of the London Stock Exchange. The Company has raised £50.2 million through a placing of 43,636,000 new ordinary shares by Mirabaud Securities, representing 26.7% of the enlarged ordinary share capital of the Company. The approximate market capitalisation of the Company following Admission is £188.2 million. The shares will be admitted to trading at 08.00 hours on 12 October 2010.
Ravi Kailas, Chief Executive of Caparo Energy Limited, said: “We are delighted that the AIM flotation of the Company has been completed successfully and we now look forward to working with our new institutional shareholders.”
The Nominated Advisor is Strand Hanson Limited. The Broker is Mirabaud Securities LLP.