indian-property-investment-company-completes-aim-listing

Indian property investment company completes AIM listing

Ishaan Real Estate's stock gains 16% on debut after the company draws strong demand for its $340 million IPO.
Ishaan Real Estate PLC attracted more than 200 investors to its ú180 million $340 million initial public offering, indicating continuing strong demand for Indian property plays.

According to people familiar with the fixed-price offering, the order book was well oversubscribed at the end of the one-week roadshow with a good mix of primarily Asian and European investors. This was despite the fact that the investment company is focusing on yet to be developed real estate, in particularly IT parks and special economic zone projects, and wonÆt be generating any return for another three years at least.

ôInvestors were attracted to the theme of Indian development and the scarcity of retail property and offices in prime...
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