Cairn Energy selling stake in Indian unit - source

Last Updated: Fri, Jun 29, 2012 18:50 hrs

MUMBAI, June 28 (Reuters) - Cairn Energy is selling 66 million shares in its Cairn India unit at 307.40-317.50 rupees apiece, a source with direct knowledge of the deal told Reuters on Thursday.

The order book for the deal will open on Friday, with Citigroup as the book runner, the source said.

Cairn India shares closed up 0.6 percent at 327.35 rupees on Thursday.

Before the announcement, Cairn Energy owned a 21.8 percent stake in Cairn India, according to Reuters data.

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