The size of the offering has been reduced from earlier plans to raise about $2 billion in the IPO after Cairn India sold $822.5 million worth of shares through a pre-IPO placement last week. The combined fund raising exercise will still mirror the initial plans, however.
In a statement issued yesterday, the parent company said the IPO will comprise 328.8 million shares that will be offered to investors at Rs160 to Rs190 apiece for a total deal size of Rs52.6 billion to Rs62.5...
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