Indian security business eyes expansion with AIM listing
Thursday, May 15, 2008
Mortice Ltd, a security and facilities management company based in India, has raised £5.0 million after joining London’s AIM market this morning.
Mortice has provided security services in India for 13 years through its Peregrine Guarding Private Ltd operation. It now intends to leverage that position to expand its other business, Tenon Property Services Private Ltd, which provides project, property and facilities management services.
Major Manjit Rajain, executive chairman of Mortice said the group could see no reason why this level of growth should not continue and was “excited to be listing on AIM which will allow us to accelerate this further and to expand our services both in terms of geography and in the range of services we offer.”
Grant Thornton Corporate Finance is the nominated adviser to the company.
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