Cholamandalam Investment and Finance Company (CIFCL) has acquired 30,00,000 shares constituting 6.89% stake of Aban Offshore. Pursuant to this acquisition, CIFCL holds a total of 45,92,650 shares constituting 10.55% stake in the company.
Prior to this acquisition, CIFCL held 15,92,650 equity shares constituting 3.66% stake in the company.
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.
