Jubilant to join AIM

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Jubilant Energy, an Indian oil and gas group, has decided to press ahead with a London listing on the junior Alternative Investment Market (AIM) this autumn.

The company postponed plans earlier this year for a listing valuing Jubilant at an estimated £1bn. A source said there was previously no definitive decision on whether to join the main board or AIM, but directors were now convinced that the latter was the better move. Jubilant is advised by stockbroker Evolution Securities.