Ruia brothers mulling over five billion pound UK listing

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London, Mar.8 (ANI): India's billionaire Ruia brothers are mulling a potential five billion pound UK listing of their oil and power businesses, which could spearhead a revival of Indian flotations in London.

The group is understood to have appointed J P Morgan Cazenove as its adviser and has contacted the London Stock Exchange authorities to smooth the way for it to become the first Indian - company to join London's main market since Vedanta Resources seven years ago.

It is also seeking to raise its profile through advertising.

Its ambitious international expansion plans included the recent 600-million-pound acquisition of America's Trinity Coal to service its steel plant and iron ore operations in North America.

It is eyeing more deals after taking its US investments to four billion dollars.

It also plans to triple the capacity of its Indian oil refinery over the next two years and is the sole remaining bidder for three of Royal Dutch Shell's European refineries.

Ravi and Shashi Ruia are ranked fifth among India's billionaires, according to Forbes magazine, with a 13.6 billion dollar fortune.(ANI)

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