Offshore drilling services provider Aban Offshore on Monday said it will raise funds to the tune of Rs 194 crore through issue of securities under private placement basis.
The board of directors of Aban Offshore at its meeting on March 8, approved the proposal to raise funds by issue of non-convertible cumulative redeemable preference shares up to Rs 194 crore, in one or more tranches, on private placementbasis, the company said in a filing to the Bombay Stock Exchange.
A committee was formed for this purpose to consider the proposal and do the necessary acts as may be required in this regard, the filing added.
Besides, the company has granted the issue of 1.25 lakh equity shares under Employee Stock Option Scheme to eligible staff, including two deputy managing directors.
Shares of the company were trading at Rs 3,400, down 5.83 per cent on the BSE in afternoon trade.
Courtesy : WWW.FINANCIALEXPRESS.COM
The board of directors of Aban Offshore at its meeting on March 8, approved the proposal to raise funds by issue of non-convertible cumulative redeemable preference shares up to Rs 194 crore, in one or more tranches, on private placementbasis, the company said in a filing to the Bombay Stock Exchange.
A committee was formed for this purpose to consider the proposal and do the necessary acts as may be required in this regard, the filing added.
Besides, the company has granted the issue of 1.25 lakh equity shares under Employee Stock Option Scheme to eligible staff, including two deputy managing directors.
Shares of the company were trading at Rs 3,400, down 5.83 per cent on the BSE in afternoon trade.
Courtesy : WWW.FINANCIALEXPRESS.COM