Overview - Aban

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