12 October 2010
Caparo Energy Limited today announces its admission to the AIM market of the London Stock Exchange and the commencement of dealings in its Ordinary Shares under the ticker symbol CEL. With the experience of working on nearly 70 IPOs, Abchurch Communications has provided media and investor relations advice for the flotation.
Caparo Energy Limited, which raised £50.2 million and has a market capitalisation in excess of £185 million, is focused on becoming one of the leading independent power producers in India and seeks to generate predictable and long-term cash flows by building up a portfolio of wind power generating assets in the Indian wind energy market.
The Company, in due course, intends to acquire and develop a portfolio of wind farms with a target total annual installed capacity of up to 5,000 MW, which it intends to develop in two phases: In Phase I, the Group has successfully negotiated a business partnership agreement with Suzlon, a leading wind turbine generator manufacturer, to acquire 3,000 MW with a target completion date of 2016. Phase II consists of 2,000 MW with a target completion date of 2017.
The account is headed up by Henry Harrison-Topham and Heather Salmond, supported by Nick Probert and Claire Dickinson.
Henry Harrison-Topham, Managing Director of Abchurch Communications, commented: “We have advised Indian companies since 2006 with the IPO of West Pioneer Properties Limited and subsequently KSK Emerging India Energy Fund. We are delighted that Caparo Energy successfully came to AIM this morning and look forward to building on this success in the future.”
The nominated advisor is Strand Hanson Limited. The broker is Mirabaud Securities LLP. For more information on Caparo Energy Limited, go to www.caparoenergy.com.
Tel: +44 (0)20 7398 7700