British-Odia Entrepreneurs’ Companies Listed In Mauritius Stock Exchange For $2 Billion

Bhubaneswar: Two companies led by British Odia entrepreneurs have got listed in Afrinex, an international stock exchange based in Mauritius.

Biswanath Patnaik and Arun Kar made Odisha proud by ringing the bell to commemorate the historic listing of their companies Xpertnest Ltd and Earthnest Ltd on the international stock exchange in presence of Mauritius Prime Minister Pravind Kumar Jugnauth and High Commissioner of India to Mauritius K Nandini Singla.

The companies, founded by Bhubaneswar-born Arun Kar and Gujarat native Chintan Panara, with guidance from Biswanath Patnaik, have successfully listed their bonds, valued at $1.5 billion and $500 million respectively.

“It’s a big milestone for the two companies. We feel blessed to have been selected for listing in the Afrinex. This will help us raise more capital for the various projects of the two companies,” said Patnaik, who is chairman of the two companies.

Patnaik had earlier pledged around Rs 250 crore to build a Jagannath temple in UK.

Kar said the listing will help the companies make forays in African countries, while simultaneously expanding in India and across Asia. Earthnest is planning to another unit of Gujarat’s bio bag-making in Odisha among other Indian states, he added.