Aban Offshore gains on plan to raise $400 million via FCCBs, GDRs routes

Aban Offshore is currently trading at Rs. 716.05, up by 2.35 points or 0.33% from its previous closing of Rs. 713.70 on the BSE. The scrip opened at Rs. 716.80 and has touched a high and low of Rs. 732.00 and Rs. 711.10 respectively. So far 235512 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 736.90 on 28-May-2014 and a 52 week low of Rs. 200.05 on 31-Jul-2013. Last one week high and low of the scrip stood at Rs. 736.90 and Rs. 605.00 respectively. The current market cap of the company is Rs. 3130.80 crore. The promoters holding in the company stood at 54.02%, while Institutions and Non-Institutions held 12.11% and 33.87% respectively. Aban Offshore has received its board’s approval to raise $400 million through FCCBs, GDRs and other routes. The company’s board also gave nod to raise upto Rs 2,500 crore by issue of equity related securities to qualified institutional buyers. Aban Offshore (formerly Aban Loyd Chiles Offshore) is India’s largest offshore drilling services provider to oil companies, mainly for ONGC. It is a company which provides oil field services for offshore exploration and production of hydrocarbons to the oil industry in India and abroad.