Shares of Vedanta Oil and Gas Ltd fell 5 per cent on Tuesday, taking its decline to the second straight session. The stock fell 4.99 per cent to lock at its lower circuit limit at Rs 35.20 apiece, commanding a market capitalisation of just below Rs 13,800 crore (Rs 13,764.57 crore). The Vedanta group stock fell by a similar percentage in the previous session upon listing.

Operating under the brand name “Cairn”, the company holds a diversified upstream portfolio of 44 onshore and offshore blocks spread across 47,000 square km of acreage, with assets in Rajasthan, East and West Coast and North East of India

"A little over a decade ago, Cairn was valued at $14.5 billion. When we acquired Cairn, its market capitalization was half of the asset value. Today, that Cairn has grown manifold, added many more reserves as well as a natural gas portfolio," Vedanta Chairman Anil Agarwal recently told shareholders in a letter.

Promoters held 56.38 per cent stake in Vedanta Oil and Gas Ltd. Public shareholding stood at 43.46 per cent, represented by a total 21.78 lakh shareholders.

Vedanta Oil & Gas said it is planning to invest approximately $5 billion over the next three to five years to scale production to 500,000 barrels per day at globally competitive costs. Its growth portfolio spans tight oil, shale gas, shallow-water and deep-water assets, satellite fields as well as significant acreage in Assam and the North-East.

It expects to pursue accelerated growth AND unlock greater value as an independent entity.  In a press release, Vedanta Oil and Gas said it is uniquely positioned to increase domestic hydrocarbon production, advance exploration activities and attract long-term investments into India's upstream energy sector.