Property company Ishaan Real Estate is planning to raise £180 million by floating on London’s Aim market, to invest in development projects ...

Property company Ishaan Real Estate is planning to raise £180 million by floating on London’s Aim market, to invest in development projects throughout India.

A pipeline of projects has already been identified, and Ishaan will take a 40 per cent stake in an initial portfolio of projects in Hyderabad, Mumbai, Bangalore and Pune.

The initial focus will be on IT parks and "special economic zone" developments, which will account for about £130 million of the money raised.

Last year the Indian government partially relaxed rules on overseas investment in property and many oversees investors have bought Indian property as a means to access economic growth in the sub continent.

Ishaan's chairman is Ian Henderson, former chief executive of UK-listed property developer Land Securities.