NEW DELHI: Noida Toll Bridge Co, developers of the popular DND flyway in the Capital, has become the first Indian infrastructure company to be formally admitted to AIM, the London Stock Exchange’s global market for innovative and growing companies.
The company is already listed on BSE and NSE, and it becomes the first listed Indian company to successfully complete a follow-on public offer in the AIM market. The company has managed to raise Rs 188 crore ($42.43 million) via global depository receipts (GDR), with each GDR representing five ordinary shares.
The company is expected to have a market capitalisation of Rs 634 crore ($142.87 million). Noida Toll Bridge Co is a special purpose vehicle set up to build and operate an expressway across the Yamuna River between New Delhi and Noida.
It is the second Indian incorporated company to admit its securities to AIM after Great Eastern Energy Corporation, which made an initial public offer on AIM in December 2005.
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Check Point on Toll Bridge
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Delhi land bank in excess of 200 acres: Noida Toll Bridge
Noida Toll Bridge has gained 20% in the last two days. Talking about the companys future growth plans, Pradeep Puri, MD of Noida Toll Bridge said that the company has a fair amount of land, both in Delhi and Noida. What we are really focusing is on whether we can utilise a small portion of that land in Noida for which our discussions are on with the Noida authorities, he added. Puri also said that their projects, namely the DND Flyway and the Noida Toll Bridge are doing very well. He added that they Mayur Vihar traffice is also coming up