Cairn India sets price range for $1.4 billion IPO
The IPO follows an $822.5 million private placement last week to Petronas and others.
The Indian oil exploration subsidiary of London-listed Cairn Energy will be looking to raise up to $1.4 billion when it launches the roadshow for its initial public offering tomorrow November 29.
The size of the offering has been reduced from earlier plans to raise about $2 billion in the IPO after Cairn India sold $822.5 million worth of shares through a pre-IPO placement last week. The combined fund raising exercise will still mirror the initial plans, however.
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