Following on a Financial Times story last week, the WSJ (subscription required) today has a piece on Bollywood looking to tap funds on London’s Alternative Investment Market.

Indian Film Co, an affiliate of Network 18 will list on AIM today following upon Bollywood film maker and distributor Eros International listing on the AIM last year.

And waiting in the wings is UTV Motion Pictures.

Why the attraction of AIM?

Apparently, Bollywood companies think they’ll see higher valuations on AIM than on Indian bourses. The U.S. is unthinkable for most Indian companies – Bollywood or otherwise – because of the strict Sarbanes-Oxley reporting regulations.