Mumbai, Nov. 29: Cairn India Limited, the Indian arm of the Edinburgh-based oil explorer Cairn Energy Plc, will launch its initial public offering (IPO) on December 11. The issue will close on December 15.

The company expects to list the scrip within a week of closing the issue.

Cairn India has set a price band of Rs 160-190 per share for the offer.

At the lower end of the band, Cairn India will raise close to Rs 5,261 crore. At the upper end, it will mobilise Rs 6,247 crore.

This implies a market capitalisation of approximately Rs 28,245-33,541 crore ($6.32-$7.50 billion), excluding the exercise of an over-allotment option for the Indian entity.

Last week, Cairn made a pre-IPO placement of over 20.96 crore shares at a price of Rs 176.48 per share. Close to Rs 3,700 crore ($822.47 million) was raised from this deal, constituting 11.88 per cent of the equity of Cairn India.

At the time of this placement, if the flotation price per share (from the IPO) was lower than Rs 176.48, the placement price will be reduced accordingly.

The largest investor in the placement was a wholly owned subsidiary of Malaysia’s Petroliam Nasional Berhad (Petronas), which subscribed to 17.65 crore shares, representing about 10 per cent of the post-flotation share capital. The remaining 3.31 crore shares were subscribed by a combination of Indian and international institutional investors.