Dart May Sell Stake in Indian CBM Assets

Australia-based Dart Energy is expected to sell 49% stake in its India subsidiary to raise funds to finance its exploration and production ventures in India and the UK. 

According to Business Standard newspaper the company is facing a tough time at some of its assets internationally and needs funds to finance some of its ventures. 

The company’s CBM assets in India are in the state of Madhya Pradesh and Assam. Dart owns 80% if the Satpura CBM block in Madhya Pradesh while it has a 60% stake in the Assam block.

"Dart Energy has been facing fund crunch. It tried to raise funds via the initial public offering route, too, but failed. Thus it has decided to sale stake in the company," a company executive told Business Standard.