Offshore drilling major Aban Offshore today said it will raise Rs 4,407.5 crore by shares sale this fiscal.
The company board has approved to raise $400 million (about Rs 1,907.5 crore) by issuing foreign currency convertible bonds, global depository receipts, American depository receipts from international markets, Aban Offshore said in a filing to the Bombay Stock Exchange today.
Further, the company would also raise Rs 2,500 crore by allotting shares to qualified institutional buyers, the filing sai, adding the proposal is subject to shareholders approval.
Meanwhile, the company reported a consolidated net profit of Rs 39.26 crore for the fourth quarter against a loss of Rs 93 crore in the same period previous fiscal.
Shares of Aban today closed at Rs 688.30 on BSE, down 1.87 per cent from previous close.
