Tirupati Graphite mulls London IPO

India’s Tirupati Graphite is looking to debut on the London Stock Exchange, it was announced on Monday.

The graphite and graphene producer has mining operations in Madagascar as well as downstream processing capabilities in India, and is considering applying for admission to London's main market.

It has lodged registration documents with the Financial Conduct Authority and appointed Optiva Securities bookrunner. No further details, including any indication on timing, were provided, however.

Shishir Poddar, chief executive, said: “In our journey to become a fully integrated graphite and graphene company, serving a diversified marketspace, we have worked hard to establish multi-jurisdictional, cash generative, sustainable operations.

“Having delivered on this initial strategy, we look forward to the next phase of growth and development as a listed company on the LSE.”

He added that a listing would provide the firm with “greater visibility and opportunity for growth as we build our market share”.

He added that further listing plans would be published “in due course”.

Tirupati Graphite is registered in the UK and headquartered in Mumbai, India.