Aban Offshore, is planning to raise Rs 4,500 crore

Aban Offshore, is planning to raise Rs 4,500 crore through various market instruments to replace a portion of its expensive debt.

The company is planning to raise Rs 2,200 crore through issue of FCCBs and GDRs and is also planning to raise an additional Rs 2,500 crore through issue of shares to qualified institutional buyers. However, it is waiting for the shareholder's approval to raise additional long-term resources.