Among other projects, the JV will develop a strategy to assist Indian companies wishing to list on foreign exchanges, in particular AIM.
As part of the memorandum of understanding signed by Noble and Almondz, trading desks will be set up in London and Mumbai allowing securities listed in the UK and India to be sold to institutional investors in the two countries.
The JV will also establish private funds, targeted at UK investors, which will invest in infrastructure-related projects, natural resources and energy services throughout India.
The tie-up with Almondz follows Noble’s recent appointment as the UK partner for Global M&A, a worldwide group of middle-market investment banks.
Noble’s chief executive John Llewellyn-Lloyd says: ‘Indian companies, particularly in the real estate and infrastructure sectors, are increasingly seeking capital from abroad, and UK investors are keen to benefit from continued Indian growth.’
In 2006, Indian companies raised a total of US$2.7 billion (£1.3 billion) on AIM and a further $200 million on the Professional Securities and Main Markets. This is almost triple the previous record of $1.1 billion raised by Indian companies in the previous year.
