Aban Offshore has rallied 5% to Rs 536 after the company said it has called a meeting of its board of directors on May 28 to consider raising funds via securities issue to qualified institutional buyers.
The board will consider raising of long term funds through issue of foreign currency convertible bonds (FCCBs), ADRs, GDRs and issue of equity related securities, etc. to qualified institutional buyers, Aban Offshore said in a statement.
The board will also consider the audited quarterly standalone and consolidated financial results for the period ended March 31, 2014, it added.
The stock opened at Rs 512 and touched high of Rs 542 on the NSE. A combined 1.98 million shares changed hands on the counter till noon deals on the NSE and BSE.
The board will consider raising of long term funds through issue of foreign currency convertible bonds (FCCBs), ADRs, GDRs and issue of equity related securities, etc. to qualified institutional buyers, Aban Offshore said in a statement.
The board will also consider the audited quarterly standalone and consolidated financial results for the period ended March 31, 2014, it added.
The stock opened at Rs 512 and touched high of Rs 542 on the NSE. A combined 1.98 million shares changed hands on the counter till noon deals on the NSE and BSE.
