Aban Offshore has tanked 12% to Rs 715, extending its Wednesday’s 7% fall on NSE, after the company said that its capital issue committee approved the allotment of 10.7 million equity shares to eligible qualified institutional buyers (QIBs) at an issue price of Rs 695.50 per share, aggregating to Rs 750 crore.
The stock opened at Rs 815 and touched a high of Rs 825 in early morning deals on NSE. A combined 2.48 million shares changing hands on the counter so far on NSE and BSE.
Meanwhile, shares in the country's largest offshore drilling company has outperformed the market by gaining 16% in five trading sessions from Rs 760 on July 1 to Rs 882 on July 8 after the company announced the fund raising plan through qualified institutional placements (QIP). The benchmark CNX Nifty had gained 0.02% during the same period.
The stock opened at Rs 815 and touched a high of Rs 825 in early morning deals on NSE. A combined 2.48 million shares changing hands on the counter so far on NSE and BSE.
Meanwhile, shares in the country's largest offshore drilling company has outperformed the market by gaining 16% in five trading sessions from Rs 760 on July 1 to Rs 882 on July 8 after the company announced the fund raising plan through qualified institutional placements (QIP). The benchmark CNX Nifty had gained 0.02% during the same period.