Unitech, the largest quoted property company in India, is set to be the fourth Indian property company to list on London’s AIM.
Unitech, which has been developing commercial and residential projects throughout India for more than 20 years, is planning to raise £150m - £200m via a special purpose fund which will be listed AIM, according to reports in India.
Unitech would join Trinity Capital and Eredene Capital, which are already listed on AIM, and Ishaan Real Estate, which is aiming to list on 27 November.
Ishaan, whose chairman is former Land Securities chief executive Ian Henderson, announced two weeks ago that it was aiming to raise £180m prior to flotation in order to invest in developments in southern and western India. It will work alongside K Raheja Corp, one of India’s biggest developers.