Cairn India CEO sells 1.5m shares in company

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Cairn India CEO sells 1.5m shares in company

The chief executive officer of Cairn India has sold more than half his shareholding in the oil and gas explorer for Rs 51.26 crore, the company said in a stock exchange filing on Thursday.

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The chief executive officer of Cairn India has sold more than half his shareholding in the oil and gas explorer for Rs 51.26 crore, the company said in a stock exchange filing on Thursday.

Rahul Dhir has sold 1.5 million shares between January 30 and February 1, Cairn said, but did not disclose any reason for the sale.

Dhir, who has been CEO since August 2006, held 2.78 million shares or 0.15% of the company's equity before these transactions.

London-listed miner Vedanta Resources acquired majority stake in Cairn India last year in a USD 8.7 billion deal, buying most of the stake from Cairn Energy Plc.