RSS

Indus raises £25 million on AIM

Article Date:  Jun 06 2008 Mark Dunne

An oil and gas exploration and development company is to expand its interests in India after raising £25 million on AIM. Indus Gas has been valued at £300 million following the IPO, which was managed by nominated adviser Arden Partners.

The Guernsey-registered company received £23.4 million after expenses by issuing more than 15.2 million ordinary shares at 164p each.

The company owns a 90 per cent participating interest in a petroleum concession in Rajasthan, India, where two discoveries have been made. Indus will use the proceeds to further appraise and develop these discoveries, install gas processing technology and fund further exploration.

Non-executive chairman Marc Holtzman says the placing is a significant step in the company’s development, adding: 'Indus has already made significant progress with one commercial gas discovery and a second discovery that will be tested later this year. Gas production is expected to start next year and a term sheet for sale of up to 33 million cubic feet of gas is already in place.

'The placing was extremely well supported by UK institutions and we are pleased to be able to welcome a range of new and well-regarded shareholders.'

Comments 

There are currently no comments on this article

Sign up and get...

  • Regular GrowthBusiness newsletters
  • Post comments on articles
Sign up

Selecting the right IT strategy in 2010

Owner managers and CEOs of fast-growing companies want IT-applications that accelerate competitive advantage and improve operational efficiency. This free whitepaper helps you plan and choose the right IT strategy for your business in 2010. Download ‘Selecting The Right Software Vendor’.

Get started with Barclays Business Banking

Choose from 3 great Start-up packages offering a range of business and banking solutions, from cashflow management software (QuickBooks or Sage) to VAT management solution. Plus, up to 2 years FREE banking (conditions apply). Apply online.

Secure early payment for your unpaid invoices with Simply Business

Simply Business works with a carefully selected panel of the UK's leading factoring and invoice discounting providers. Find out your cash flow options in minutes, you could have 90% of your invoices paid in 24 hours. To find out more click here

Research

  • Directors' Pay AIM 2009

    What should an AIM company pay its CEO or FD?
    What should a non-executive director or chairman expect to be paid?
    What benchmarks should AIM remuneration committee members be using when
    setting pay?

VCT Special Report 2009

This reports principle aim is to provide business owners seeking funding with information about the amount of funds that VCTs have to invest.

Cash Shells Special Report 2009

A comprehensive overview of cash shells on AIM and PLUS, companies that have become a significant feature on the market landscape.

More

Events Calendar

The Media Magnate Awards 2009

26th March, Vinopolis, London

More

More News: IPO & City News

Jeyes in £20 million refinancing

Hygiene product company Jeyes, which is part-owned by private equity firm LGV Capital, has secured an asset-based lending facility worth £20 million.

Growth companies to benefit from fundraising bonanza

As much as £300 million is expected to be raised this tax year for investment in growing businesses, according to fund managers.

Jaeggi to chair The Founders Club

A network of VC-backed entrepreneurs who agree to share profits from their exits has appointed private equity chief André Jaeggi as group chairman.

Advertisement

Related articles

Scientific Digital Imaging floats on AIM

A specialist in digital imaging with sales of £5.7 million has floated on AIM with a market capitalisation of £2 million.

Nighthawk to swoop on AIM cash 

A Bristol-based hydrocarbon specialist is days away from raising a seven-figure sum in a bid to continue work on its flagship project.

Cancer vaccine specialist in PLUS IPO

A company developing a pipeline of cancer vaccines has raised £1.55 million in an initial public offering (IPO) on PLUS. Scancell raised the money through AIM-listed broker St Helen’s Capital. 

Funding for growing software company

Connectiva, a developer of software for telecoms companies, has secured investment of US$17 million (£9.2 million). The funding round was led by Bangalore-based NEA-IndoUS Ventures, with further backing from IFC (a member of the World Bank Group) and software giant SAP.

Poll

What should Alistair Darling deliver in the Budget?




Have your vote on current issues

People who read this also read

White Papers

Better Roads

Serves the information needs of governments and construction contractors involved in Federal, State, County, City and Township highway, road and bridge construction, winter maintenance, roadside and vegetation management and other highway-related projects.

Defense Technology International

Is the one publication focusing on the critical role of defense technologies in programs, policies, programs and funding, providing readers with integrated intelligence and global perspective in Land, Sea, and Air.

FierceGovernmentIT

Is a free, three times a week email briefing for government employees and contractors on the latest government technology news.

More