Aban Offshore lost 1.37% to Rs 869.70 at 9:17 IST on BSE after the firm said that its capital issue committee approved the allotment of 1.07 crore equity shares to eligible QIBs at an issue price of Rs 695.50 per share, aggregating to Rs 749.99 crore
The announcement was made after market hours on Tuesday, 8 July 2014.
Meanwhile, the S&P BSE Sensex was up 41.20 points or 0.16% at 25,623.31.
On BSE, so far 29,000 shares were traded in the counter as against average daily volume of 5.24 lakh shares in the past two weeks.
The stock hit a high of Rs 886 and a low of Rs 856.55 so far during the day.
Aban Offshore said that the Capital Issue Committee of the company at its meeting held on 8 July 2014, approved allotment of 1.07 crore equity shares of face value Rs 2 to eligible Qualified Institutional Buyers (QIBs) at the issue price of Rs 695.50 per equity share, aggregating to Rs 749.99 crore.
Aban Offshore's consolidated net profit jumped 164.2% to Rs 160.37 crore on 9.6% growth in net sales to Rs 1051.78 crore in Q4 March 2014 over Q4 March 2013.
Aban Offshore is India's largest offshore drilling contractor in the private sector, offering drilling and oil field services for offshore exploration and production of hydrocarbons to the oil industry in India and abroad.
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