Cairn India IPO set to raise up to 2.2 billion

摘要

London-UK-based Cairn Energy's majority owned subsidiary Cairn India has set the price range for an initial public offering of its stock, expected to raise a total of between 1.93 billion and 2.23 billion, the company said November 27. The price range for the IPO has been set at Rupee 160-190 (3.58-4.25)/share, implying a market capitalization for Cairn India of 6.32 billion to 7.5 billion, excluding any possible overallotment option.