Aban Offshore up 6% on shareholders nod for fund raising

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26 Aug, 2025 12:21

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Shares of Aban Offshore gained 5.8 percent intraday Thursday, in addition to 5 percent rally in previous session. The drilling, exploration and production services provider said it has received approval from shareholders (in AGM on September 23) for issuing securities to qualified institutional buyers (QIBs).

Shareholders also approved issuing foreign currency convertible bonds (FCCBs), global depository receipts (GDRs), American depository receipts (ADRs), warrants convertible into shares.

Additionally, Aban Offshore said Deep Drilling 1 Pte (DD1PL), a wholly owned step down subsidiary, is considering certain amendments to bond agreement dated December 20, 2011. "Such amendments will include, but is not limited to the extension of the tenor of the bonds," it added.

DD1PL has appointed Pareto Securities to assist them in this process.

At 11:02 hours IST, the scrip of Aban Offshore was quoting at Rs 254.00, up Rs 10.55, or 4.33 percent on the BSE.Posted by Sunil Shankar Matkar