Aban Offshore to raise Rs4,422 cr via share sale, QIB

Aban Offshore to raise Rs4,422 cr via share sale, QIB
PTI
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First Published: Thu, Sep 17 2009. 04 41 PM IST
Updated: Thu, Sep 17 2009. 04 41 PM IST
Mumbai: Drilling and oil services firm, Aban Offshore on Thursday said it will raise an amount totalling Rs4,422 crore from international markets and by issuing shares to qualified institutional buyers (QIB).
The shareholders have approved to raise $400 million (Rs1,922 crore) from international markets and Rs2,500 crore by issuing shares to qualified institutional buyers, Aban Offshore said in a filing to the Bombay Stock Exchange.
The company would raise $400 million (nearly Rs1,922 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 Rs2,500 crore by allotting shares to potential buyers on private placement basis, it said.
Shares of Aban Offshore on Thursday closed at Rs1,598 on BSE, down 1.35% from the previous close.
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First Published: Thu, Sep 17 2009. 04 41 PM IST