Cairn Energy to launch mega IPO
Mumbai: The $6.5 billion Scottish oil drilling company Cairn Energy's initial public offer is likely to open sometime late this year or early next year. Cairn with its largest block acreage of nearly 8,000 sq km in Rajasthan, made India's biggest oil discovery in 22 years there.

Cairn is also producing oil from its Ravva fields and gas in the Krishna-Godavari basin, both off the Andhra Pradesh coast and Cambay basin on the western coast of Gujarat.

Investment banking sources say that the equity offer could be one of the largest ever in India — above Rs 15,000 crore or $3.5 billion.
The company has recently tied up a $1 billion credit from a group of banks in London.
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StanChart mulls entry into equity broking business in India
New Delhi: Standard Chartered Bank may for the first time ever in the history of the bank enter into the equity broking business. The bank is upbeat about the Indian booming stock markets and growing retail interest in equity and equity-related investments in the country.

As a part of a larger global initiative, the bank will pick up stake in an equity broking house. Bank officials said the equity broking business fits in well with the bank's wealth management business.

Currently, the top 10 players in the equity broking business — Kotak Securities, Karvy, Motilal Oswal, Anagram and ICICI Direct — corner one-fourth of the total equity market turnover.
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