cairn-india-sets-price-range-for-14-billion-ipo

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.

In a statement issued yesterday, the parent company said the IPO will comprise 328.8 million shares that will be offered to investors at Rs160 to Rs190 apiece for a total deal size of Rs52.6 billion to Rs62.5...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222