Cairn Energy is planning to sell about 3.5% stake in its former unit Cairn India, according to reports.
Reports stated that Cairn Energy plans to sell 66.8 million shares, or 3.5 percent of the Indian company's equity.
The company was selling around 66 million shares in the range of Rs307.40-317.50each, valuing the deal around $365 mn, says report.
Earlier this month, Cairn Energy agreed to buy UK-focused Nautical Petroleum for $644 mn.