Charles Russell Speechlys advises India Capital Growth Fund on its move to a premium listing on the Main Market

Charles Russell Speechlys has advised long-standing client India Capital Growth Fund Limited on its move from AIM to a premium listing on the Main Market. Stockdale Securities is the sponsor.

Admission of the Company’s ordinary shares to the premium listing segment of the Official List and to trading on the Main Market of the London Stock Exchange and delisting from AIM took place on 24 January 2018.

The London Stock Exchange welcomed Elisabeth Scott, Chairman of ICGF, to open the London Market on 1 February at the Market Open Ceremony to celebrate the Company’s transfer to the Main Market.

India Capital Growth Fund Limited is a closed-ended investment company incorporated in Guernsey and managed by Ocean Dial Asset Management Limited. The Company’s investment objective is to provide long-term capital appreciation by investing in companies based in India, predominantly in listed mid-cap and small-cap Indian companies with a smaller proportion in unlisted Indian companies. On Admission, the Company’s market capitalisation was £129 million.

Elisabeth Scott, said “The Board is delighted that the move to the Main Market has already achieved our objective of improving the Company’s rating and raising its profile”.

David Cornell, Fund Manager of ICGF, commented: “2017 was a fantastic year for the fund and today’s listing is yet another milestone in our exciting journey. Our recent performance is testament to the strength of the team and my thanks go to them for all their hard work. India Capital Growth remains well positioned to benefit from India's continued economic transformation, and we look forward to the year ahead with confidence."

Victoria Younghusband, Corporate Senior Counsel at Charles Russell Speechlys, said “We are privileged to have worked with the Company, Ocean Dial and Stockdale on this significant new stage in the Company’s development”.

The team at Charles Russell Speechlys was led by Victoria Younghusband, assisted by James Moubray, Nathan Lightman, Thomas Watts and Sophie Willis.

For more information, please contact Victoira Younghusband on +44 (0)20 7427 6707 or at Victoria.Younghusband@crsblaw.com.