Indian oil explorer Jubilant Energy on Monday said it will raise $85 million through institutional placement and plans to get listed on the London Stock Exchange (LSE) on November 24. The company would place 69,379,430 new shares with institutional investors at 77 pence per share to raise gross proceeds of
$85 million, Jubilant Energy said in a regulatory
filing to the LSE. Jubilant Energy, engaged in upstream E&P (exploration and production), is also mulling the admission of its entire issued share capital to trade on the AIM market of the LSE,
which is expected to take place on November 24, the filing added.