18 June 2007
The London Stock Exchange is pleased to welcome The Indian Film Company Limited to AIM.
(AIM: IFC) is pleased to announce that it has been admitted to trading on AIM, a market operated by the London Stock Exchange plc ("AIM"), and that its ordinary shares commenced trading today on AIM under the symbol “IFC”.
The Indian Film Company is a new group set up to invest in the Bollywood film industry, in a diverse portfolio of Indian films and films primarily targeted at the Indian audience across varying genre, language and budgets.
The Company raised £55 million in gross proceeds through a placing of 55,000,000 ordinary shares at 100p per share giving the company a market capitalization of approximately £55 million at admission.
Commenting today, Raghav Bahl, a director of The Indian Film Company, said:
“We are excited about the growth potential for The Indian Film Company on AIM. It will enable high quality international investors to reap the benefits of the structural changes and growth opportunities being thrown up by the Indian film industry".
Grant Thornton Corporate Finance is the Company’s nominated adviser and Elara Capital plc and Oriel Securities Limited are the Company’s joint brokers. Access Financial Services Private Limited acted as the Indian financial adviser to the Company.