Offshore drilling firm Aban Offshore today said it has raised Rs 697.50 crore through private placement of shares with qualified institutional buyers.

The committee of the board of directors at its meeting held yesterday has decided to close the bid period, and approved the allotment of 5,697,135 shares at Rs 1,224.30 a piece, aggregating to Rs 675.50 crore to qualified institutional buyers, Aban Offshore said in a filing to the Bombay Stock Exchange.

BSE  |  NSE Price

Also Read   Related Stories News Now - Aban Offshore surges 4% on QIP success - Aban Offshore opens bids for Rs 1,000-cr QIP issue - More follow-on required - Sebi allows auction for QIBs in follow-on offers - Sebi passes order in Nissan Copper share case - Aban Offshore Q2 net dips 73.32% to Rs 71.4 crore

Also Read   Related Stories News Now - Oil, banking stocks fuel rally, Nifty ends above 4,900 - Micro Technologies Q4 profit rises over 3-fold to Rs 24 cr - TVS Motor Q4 net up 31% at Rs 57 cr - SGJHL Q4 net at Rs 160 cr - CII demands dual pricing of diesel More

Shares of Aban Offshore were trading at Rs 1,366 on the BSE, up 1.88 per cent from its previous close.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Oil, banking stocks fuel rally, Nifty ends above 4,900 - Micro Technologies Q4 profit rises over 3-fold to Rs 24 cr - TVS Motor Q4 net up 31% at Rs 57 cr - SGJHL Q4 net at Rs 160 cr - CII demands dual pricing of diesel

Tags : aban offshore | QIB | private placement | BSE   Read Business news in  Advertisements -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  Journey on, We are by Your Side. Click here to know more -  2 Lac Apartments, 1 Lac House / Plots. Click here -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  The Best Seller is Also the No. 1 in Mileage. Click here -  Watch The Film Here. Click here to know more.. -  Leader in Passenger Car & Automobile Tyres. Click here -  1 billion in saving for Unilever without any tangles. -  A Brand New Server at a Price That Fits Your Budget. Click here -  Learn How One City is Running on FOOD SCRAPS. -  One Partnership Endless Possibilities. Click here to know more -  Helping doctors detect diseases earlier, saving costs & extending lives. -  36 Lakhs can get you a pool of Luxuries. Click here -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More