At last fate of Cairn will be decided on 9th Jan 2007. I am very tensed since I have also applied for CAIRN. Best of Luck CAIRN and all those subscribers who have been alloted the shares.
Cairn is one of the best companies to be in 1 portfolio. dont go by oversubscription figures.It is a pvt company with better management than ongc.Definitely a hold.listing will be at 175 but will reach 320 in 6 months time.better to sell at 320 after 6 months rather than sell 1st day. I know many people cancelled their cheque and i know they will cry on listing day and definitely would like to buy this stock.This stock is not less than tcs,infosys,reliance,bharti .definitely hold it people and i would like to congratulate to all allotees.I am regular reader of moneycontrol msg board and there is 1 guy with id buu who is so excited abt the stock and he wants everybody to sell on listing to create panic and buy himself as he himself had not applied.i pity such people.
PETRONAS, through its wholly-owned subsidiary PICL, has subscribed for 176.5 million shares representing 10% of the post-IPO share capital of Cairn India Limited.
Cairn India is a newly incorporated company, currently 100%-owned by Cairn Energy PLC, an independent E&P company listed on the London Stock Exchange.
Cairn Energy PLC currently holds several E&P assets in India and is listing Cairn India on the Bombay Stock Exchange and the National Stock Exchange of India. Upon completion of the IPO, Cairn India will hold all the ownership and operated interests in Cairn Energy's Indian crude oil and natural gas development and production assets and the majority of its Indian crude oil and natural gas exploration assets.
PETRONAS views its shareholding in Cairn India as a long-term supportive investment and hopes to build a positive and constructive relationship with the management of Cairn India in the future.
PETRONAS has no intention of increasing its stake in Cairn India.
Issued by Media Relations Department PETRONAS ( http://www.petronas.com/ )
Cairn will list at 175 and will show downward movement for some time and then will move stablize around 165 but on the first day it will not go below 160 .
Detail investment shows that cairn will be number company in energy sector after a year so which will directly compete with ONGC