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MUMBAI: Aban Offshore on Wednesday said it has raised Rs 697.5 crore through private placement of shares with qualified institutional buyers.

The committee of the board of directors at its meeting held on Tuesday has decided to close the bid period, and approved the allotment of 56,97,135 shares at Rs 1,224.30 a share, aggregating Rs 675.50 crore to qualified institutional buyers, Aban Offshor e said in a filing to the Bombay Stock Exchange.

The private placement offer which opened on November 13 closed on November 17.

Shares of Aban Offshore were trading at Rs 1,366 on the BSE, up 1.88 per cent from its previous close. — PTI

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