 "Press and Journal, The Aberdeen (UK)")
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Cairn India ipo gets off to shaky start
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Shares in Cairn India fell as much as 20% before recovering some
ground to close 14% down as the company made its debut on stock
exchanges in India.
The company, which remains 69.5%-owned by Scottish oil and gas
firm Cairn Energy, got off to a bad start on concerns over its
valuation, said to be above Indian and international peers.
Investors are also worried about who will build a pipeline to
transport oil from Cairn India's fields in Rajasthan, north-west
India, while falling oil prices were also thought to be a factor in
the share price slippage.
Cairn had priced the initial public offering ...
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