Aban

Overview

Investor Information overview

  • Aban Offshore Ltd was incorporated in 1986 and went public in 1988. The shares are currently listed in Bombay Stock Exchange and National Stock Exchange
  • The company acquired its first two jack-up rigs in 1987
  • In 2000 the company purchased a 300-ft. jack-up rig from Mahindra & Mahindra Ltd
  • In 2002 Company merged Hitech Drilling Services (India) Ltd., belonging to the Tata Group with itself, taking the total fleet to four rigs
  • This also enabled the Company to enter the FPSO business with the FPU Tahara’ owned by Hitech
  • Between 2002 and 2006 Company added two more jack-up rigs (Aban V and Aban VI) and a drill ship (Frontier Ice)
  • In 2006 the Company set-up Aban Singapore Pte Ltd in Singapore as its wholly owned subsidiary for expanding the operations globally
  • During 2006, the Company issued Zero coupon Foreign Currency Convertible Bonds for a total value of USD 100 mn convertible into equity shares
  • It had also issued non-convertible redeemable cumulative preference shares during 2006. These are currently listed in BSE
  • ASPL had acquired a drillship and a jack-up rig besides placing order for construction a new Jack-up through its 100% SPVs
  • In 2007 ASPL had acquired 100% shares of Sinvest AS, a listed Norwegian company. At the time of acquisition by ASPL, Sinvest had 8 Premium Jack-up rigs of which two were delivered and 6 were under various stages of construction at the Singapore yards
  • In 2009, Company issued equity shares to investors under Qualified Institution Placement scheme for a total amount of Rs.698 crores
  • In July 2014, Company issued equity shares to investors under Qualified Institution Placement scheme for a total amount of Rs.750 crores