Aban Offshore raises Rs 697.50 cr via QIP

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.

The private placement offer which opened on November 13, closed on November 17.

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