Mumbai: Cairn India Ltd has mobilized Rs 2,534.6 crore through private placements of shares with Petronas and Orient Global Tamarind Fund Pte Ltd. Petronas and Orient Global Tamarind Fund Pte Ltd will buy a total of 113 million shares of Cairn India at Rs 224.30 per share, which comprises of a 0.46 per cent premium to the average closing price of the share on NSE in the last two trading days. With this private placement, Petronas has hiked its stake in the company from 9.93 per cent to 12.7 per cent. The Malaysian company had originally picked up the stake in the Indian company just before its IPO in November 2006.
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