Aban Offshore allots 5697135 shares

Aban Offshore Ltd has announced that the duly authorized Committee of the Board of the Company has, at its meeting held on November 20, 2009, allotted 56,97,135 fully paid equity shares of face value Rs. 2/- each of the Company ("Equity Shares') at an issue price of Rs. 1,224.30 per Equity Share (including a premium of Rs. 1,222.30 per Equity Share), aggregating to Rs. 697,50,02,380.50 (Rupees Six hundred ninety seven crore fifty lakh two thousand three hundred eighty and paise fifty only) to QIBs by way of a Qualified Institutions Placement under Chapter VIII of SEBI ICDR Regulations.

The stock was trading at Rs.1372.40, up by Rs.24.15 or 1.79%. The stock hit an intraday high of Rs.1379.75 and low of Rs.1327.

The total traded quantity was 475657 compared to 2 week average of 574733.

Source : Equity Bulls

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