The KSK Emerging India Energy Fund Limited (KEF) listed on AIM and the CISX in June. At the placing price of 100p, the market capitalisation of the fund was £101 million. The shares began trading at 112p, but the price has since slipped back towards the issue price level since then. The KSK Emerging India Energy issue represented the largest fund raising on AIM this year to date.

KSK Emerging India Energy was established to invest in the Indian power and energy sector. Target investments will range across the power and energy value chain and will include infrastructure investments. The primary category of target companies will be manufacturers of equipment and service providers. The fund may also invest in companies such as equipment manufacturers or service providers outside of India, where there is scope for the fund to facilitate access for such companies to the Indian market. The Investment Adviser and Investment Manager to the fund are subsidiaries of KSK Power Ventur plc, a prominent player in the Indian power market. The investment adviser and manager, Scott Bayman and Tanmay Das, were behind the Small is Beautiful Fund, an Indian energy sector private equity fund.

The Indian power and energy markets are set to see substantial growth, on the back of the strong economic growth in the country. The Indian Integrated Energy Policy and Plans of 2006 determined that the nation must increase its primary energy supply by three to four times 2006 levels over the next two decades.

Liberum Capital Limited is broker to KSK Emerging India Energy, and Grant Thornton acts as Nomad.