Jubilant Energy lists on LSE's Alternative Investment Market

Indian oil explorer Jubilant Energy today got listed on the Alternative Investment Market (AIM) market of the London Stock Exchange.

In a regulatory filing, the company said the entire issued share capital comprising 41.63 crore ordinary shares of 0.01 euro each, has been admitted to trade on the AIM market of the London Stock Exchange (LSE).

"We are delighted to be admitted to trading on the AIM market in London. We are now funded to develop our initial work programme and to tap into the incredible demand for energy in India," Jubilant Chief Executive Officer Ajay Khandelwal said.

The proceeds of the listing, would be used to progress Jubilant's exploration and development of oil and gas assets, to accelerate its ongoing and future exploration programme and for general corporate purposes, Jubilant had earlier said.

Jubilant is currently part of a diversified Indian business group (Wider Jubilant Group) founded by Shyam Bhartia and Hari Bhartia, with a presence in approximately 50 countries and revenues of around $1 billion for the financial year 2010.

Jubilant has built up a balanced portfolio of oil and gas assets through participation in licensing rounds since 1995, with a presence in the proven and prolific hydrocarbon basins of Krishna Godavari, Cambay, Cauvery and Assam-Arakan, India.