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The Essar Group has brushed aside reports that it is planning a $750-million listing of infrastructure assets in London next year.
“As of now there are no specific transactions proposed,” said a spokesperson for the group. However, given the company's “significant” growth trajectory, it was continually looking for options available to it for raising capital, they added.
The group is considering an IPO of ports and other assets next year, Bloomberg News reported on Monday.
Essar Energy raised £1.3 billion when it listed in London last year.
India was the biggest foreign issuer on London's Main Market and the smaller Exchange, the AIM last year. Among those listing last year was SKIL Ports and Logistics, which raised £76 million.
However, appetite for listings has fallen sharply this year, amid continuing concerns over the Euro zone.
Quietest quarter
Ballarpur Industries Ltd's plans to raise $330 million from a London listing earlier this year is yet to materialise. The third quarter of 2011 was the quietest globally for IPOs since the third quarter of 2009, Renaissance Capital said in a report published last week. The weakness was likely to continue, the report concluded.
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