Infrastructure India Plans To Raise GBP1.36M In Placing

LONDON (Dow Jones)--Infrastructure India PLC (IIP.LN), an investment company focussed on Indian infrastructure assets, said Tuesday it plans to raise GBP1.36 million by way of a placing of 3,089,158 ordinary shares at a price of 44 pence per share. MAIN FACTS: -To further reduce operating costs, the Directors have concluded that it is necessary for the Company to seek a listing on a more suitable market, such as the AIM market of the London Stock Exchange. -Group has recently contributed a further GBP360,000 to the toll road project. -As a result of this additional contribution, the Company faces a working capital shortfall. -Without undertaking the Placing, the Directors would have been placed in the position of needing to seek an additional source of finance or to achieve a full or partial exit from one or both of the Company's investments within the next six months. -Shares at 1225 GMT unchanged at 48.5 pence. -By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; tommy.stubbington@dowjones.com (END) Dow Jones Newswires July 27, 2010 08:23 ET (12:23 GMT)