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Aban Offshore opens bids for Rs 1,000-cr QIP issue
Offshore oil drilling and production services company Aban Offshore today opened bids for its Rs 1,000-crore qualified institutional placement (QIP) issue.

Need to make SEZ laws error-free
Trinamool Congress leader and new Railway Minister Mamata Banerjee has called for a review of the Special Economic Zones (SEZ) policy. Whoever takes over as the Union commerce minister will have to do it in any case, as it is nearly four years since the SEZ Act, 2005, came into effect and over three years since the SEZ Rules, 2006, were put in place. A performance assessment can do no harm but certainly the SEZ developers who have already acquired land and sunk their money in developing infrastructure and the units, which have obtained approvals and started their operations, should not be left wondering for long as to whether any policy changes will affect them. They need to be assured quickly that any policy changes will affect only the intending SEZ developers and SEZ units.

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Aban Offshore opens bids for Rs 1,000-cr QIP issue

Offshore oil drilling and production services company Aban Offshore today opened bids for its Rs 1,000-crore qualified institutional placement (QIP) issue. - DCB to raise up to Rs 100 cr via QIP issue - Aban Offshore Q2 net dips 73.32% to Rs 71.4 crore - Aban Offshore net rises 7% to Rs 87 cr - HCL Infosystems opens Rs 500 cr QIP issue - Aban Offshore rises on contract extension - Marg to raise Rs 2,905 cr via GDR, QIP issue The committee of the company"s board also approved the floor price of Rs 1,224.28 per equity share for the proposed QIP issue and fixed November 13 as the date for it, in accordance with Sebi rules. The committee of the board took these decisions at its meeting today, Aban Offshore said in a filing to the Bombay Stock Exchange (BSE). The company also authorised the committee to decide on the appropriate date for closing the bids, it said. The committee further approved the draft preliminary placement document in relation to the allotment of equity shares of Rs 2 each for an amount of Rs 1,000 crore to qualified institutional buyers, it said. The company, which is also engaged in the business of wind-power generation, possesses 20 offshore assets including 15 jack-up offshore drilling rigs. Shares of the company closed at Rs 1,234.75, up 0.46 per cent from previous close on the BSE.


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