In a bid to reduce debt, Aban Offshore has raised Rs 750 crore through 25% dilution of equity. The capital issue committee approved the issuance of 10,783,608 equity shares of face value of Rs 2 to Qualified Institutional Buyers (QIBs) at an issue price of Rs 695.50 per equity share, which is at a discount of Rs 36.47 per share to the Floor Price Rs 731.97 per equity share.
Earlier the company said that it has adopted the preliminary placement document for raising upto Rs 2,500 crore through QIP.
Aban Offshore (formerly Aban Loyd Chiles Offshore) is India’s largest offshore drilling services provider to oil companies, mainly for ONGC. It is a company which provides oil field services for offshore exploration and production of hydrocarbons to the oil industry in India and abroad.
