Jubilant Energy, an India-focused oil and gas exploration and production company incorporated in the Netherlands, raised £50 million (US$77 million) on the alternative investment market (AIM) in London through an IPO in November. The offering gives Jubilant Energy a market capitalization of over £320 million.
Jubilant Energy is part of a holding company called Jubilant Enpro, which has business interests in aerospace, oil and gas, power, infrastructure, financial services, trading, and homeland and mega-city security systems. The holding company is controlled by brothers Shyam Sunder Bhartia and Hari Shanker Bhartia in India.
Ashurst advised Jubilant Energy on the offering. The Ashurst team was led by London-based corporate partner Nick Bryans, who was assisted by senior associate Matthew Cole and associate Rajvir Jheeta. The team also included partners Richard Gubbins (head of Ashurst’s India business group), Nick Williamson, Hong Kong-based US securities partner Stuart Rubin, energy partner Anthony Patten, and senior energy associate Jubilee Easo.
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