Caparo breezes through AIM

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Caparo Energy, a power producer focused on developing wind farms in India, has completed a £50.18 million (US$79 million) placement of ordinary shares on London’s AIM market. The placement involved 43,636,000 new shares (26.7% of Caparo’s share capital) and was routed through Caparo’s holding company in Guernsey. The placement gives Caparo a post-admission market capitalization of approximately US$297 million.

Caparo will use the funds to develop wind farms in India. It plans to achieve a generating capacity of 3,000 megawatts by 2016 and a further 2,000 megawatts by 2017. Caparo partnered with Indian wind turbine producer Suzlon for the first phase of its development. It is currently discussing the acquisition of land and turbines for phase two.

Mayer Brown, led by corporate partners William Charnley, Paul de Bernier and Sandy Bhogal, advised Caparo Energy on the listing. The team also included associates James Broadhurst, Linda Lee, Archanna Ramu, Stephen Green and Simon Fisher.

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