Cairn India IPO

Cairn India IPO was launched by the giant international oil refining and exploring company - Cairn Energy PLC. The main objective of launching Cairn India IPO was to fund the establishment of the Indian arm of the international oil refining and exploring company.

Details of Cairn India IPO are as follows -

Cairn India IPO was launched by the parent company Cairn Energy PLC. The Cairn India IPO was issued to fund the establishment of the Cairn India Ltd - the Indian arm of the Cairn Energy PLC and which owns 69.5% holding in Cairn India.

The issue was introduced in the market during January 2007. The offer price of the Cairn India IPO was fixed at Rs 160 per Cairn India share by a book building exercise. This helped Cairn India to reach a market capitalization of Rs 28,245 crores and it included around US$ 600 million of the gross proceeds to be retained by the Indian arm. Cairn India IPO raised a corpus of Rs 8,616 crores. The gross proceed that was retained by Cairn India, was around Rs 2,681 crores. The shares of the Cairn India were listed in the Bombay Stock Exchange and the National Stock Exchange of India.