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Cairn Energy says Cairn India IPO price set at 160-190 rupees/shr.
(From AFX Europe (Focus))
LONDON (AFX) - Cairn Energy PLC said the price range for the initial public offering of shares for Cairn India Ltd has been fixed at 160-190 rupees per share, giving the Indian business a market capitalisation of 6.32-7.50 bln usd.
The price range will give an implied valuation on Cairn Energy's interest in Cairn India of 5.72-6.90 bln usd, it said, taking into account the 600 mln usd to be retained by Cairn India after the flotation. …
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