CAIRN India Ltd IPO opens for subscription on Monday

The Initial Public Offerinf of CAIRN India Ltd opens for subscription on Monday (December 11, 2006). The company is issuing shares through 100% book building at a price band of Rs.160 to Rs.190. The company is issuing 328,799,675 shares of Rs.10 each in the price band of Rs.160-Rs.190.

The company also has a green shoe option of up to 49,319,951 shares. The issue and the green shoe option, if exercised in full will aggregate to 378,119,626 shares. The issue will constitute 18.63% of the fully diluted post-issue equity share capital of the company assuming that the gree shoe option is not exercised and 20.84% assuming that the green shoe option is exercised in full.

The investors have to apply for a minimum of 35 shares and in multiples of 35 shares. The maximum subscription amount for retail investor is 1,00,000.

The global coordinators and book running lead managers for the issue are DSP Merrill Lynch Ltd, ABN AMRO Securities India Pvt Ltd. JM Morgan Stanley Pvt Ltd is another book running lead manager. Intime Spectrum Registry Ltd is the registrar to the issue.

The issue opens on December 11, 2006 and closes on December 15, 2006.

Click here to visit Company's website:www.cairnindia.com

Source : Equity Bulls

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