Cairn UK Holdings Ltd has 19.61 crore shares while Life Insurance Corp (LIC) has 16.77 crore (8.78 per cent) shares.
ICICI Prudential hold 1.08 per cent shares while foreign institutional investors (FIIs) have 15.14 per cent holding. Financial institutions and Bank have 8.7 per cent.
Analysts said in case Cairn India buys 10 per cent of 19.10 crore shares in the buy back programme and extinguishes them, the total outstanding shares will come down to 171.945 crore. The reduced outstanding shares would mean that Vedanta Group's stake would rise to about 65.3 per cent without it buying any new shares.
Cairn, which produces over 1,75,000 barrels per day of oil or a quarter of India's crude oil production, was up Rs 9.45 (2.98 per cent) at Rs 326.70 at 1300 hours on the BSE.