CAIRN India Ltd files DRHP with SEBI for IPO

CAIRN India Ltd has filed Draft Red Herring Prospectus with SEBI for its forthcoming IPO. The company is coming out with an Initial Public Offering of 538,470,588 equity shares of Rs.10 each for cash at a price to be decided through book-building process.

There will be a green shoe option to allot further equity shares in the issue. The issue will constitute 30.5% of the fully diluted post-issue share capital of the company assuming that the green shoe option is not exercised.

The company proposes to make a Pre-IPO placing. If such Pre-IPO placing is completed, the number of equity shares offered to the public in the issue will be reduced by the number of equity shares issues pursuant to the Pre-IPO placing.

DSP Merrill Lynch and ABN AMRO Securities India (Pvt) Ltd will be the global coordinators and book running lead managers. JM Morgan Stanley will act only as the book running lead manager. Intime Spectrum Registry Ltd will be the Registrar to the issue.

Source : Equity Bulls

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