Aban Offshore to raise Rs 4,422 cr via share sale, QIB

Drilling and oil services firm, Aban Offshore today said it will raise an amount totalling Rs 4,422 crore from international markets and by issuing shares to qualified institutional buyers.     

The shareholders have approved to raise $400 million (Rs 1,922 crore) from international markets and Rs 2,500 crore by issuing shares to qualified institutional buyers, Aban Offshore said in a filing to the Bombay Stock Exchange (BSE).     

The company would raise $400 million (nearly Rs 1,922 crore) through issue of foreign currency convertible bonds, global depository receipts and American depository receipts from international markets, the filing added.     

Further, the company would also raise Rs 2,500 crore by allotting shares to potential buyers on private placement basis, it said.     

Shares of Aban Offshore today closed at Rs 1,598 on BSE, down 1.35 per cent from the previous close.