Essar Energy readies largest Indian listing in London

With businesses in the power and oil and gas sectors, Essar Energy's planned $2.5 billion IPO offers international investors widespread exposure to the Indian growth story.

While there has been no shortage of investment opportunities in India's power sector in recent years, Essar Energy is giving foreign investors a chance to get a share of this fast-expanding industry through a London-listed entity that will also own 39% of one of India's fastest growing private sector oil and gas companies.

In an announcement issued last week, Essar Energy said it intends to go ahead with an initial public offering on the main board of the London Stock Exchange that is expected to raise approximately $2.5 billion. The plan is to sell about 20%-25% of the share capital in an offering that will be targeted at institutional investors.

A specific timetable has yet...

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