Aban Offshore allots preference shares for Rs.61 crores

Aban Offshore Ltd has announced that Allotment of Non-Convertible Cumulative Redeemable Preference Shares of Rs 10/- each for cash at par ("Securities") aggregating to Rs 61 Crores on Private Placement Basis.

The following Cumulative Redeemable Preference Shares have been allotted on March 31, 2007:

1. Yes Bank Ltd : 50,00,000 no of shares

2. Vijaya Bank : 50,00,000 no of shares

3. Rajesh Gupta : 10,00,000 no of shares

4. Indian Bank : 100,00,000 no of shares

5. Indus Ind Bank : 3,00,00,000 no of shares

6. UCO Bank : 1,00,00,000 no of shares

Further the Company has informed that, the said Cumulative Redeemable Preference Shares carries 9% Dividend and are redeemable at the end of fifth year with a Call option at the end of third year from the date of allotment.

Source : Equity Bulls

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