Cairn India EGM approves preferential issue to Petronas and Orient Global Tamarind Fund

Cairn India Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on April 16, 2008, inter alia, have approved the Preferential Issue of 11,30,00,000 (Eleven crores and Thirty Lakh) Equity shares of the Company of face value of Rs 10/- each at a premium of Rs 214.30 per equity shares aggregating to Rs 2534.59 Crores to Petronas International Corporation Ltd and Orient Global Tamarind Fund Pte Ltd.

The Stock closed on Thursday at Rs.257.55, up by Rs.4.80 or 1.90%. The stock hit an intraday high of Rs.262.50 and low of Rs.255.

The total traded quantity was 1491034 compared to 2 week average of 1528586.

Source : Equity Bulls

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