![Amarchand, Khaitan, DLA Piper on Aban Offshores 1000 crore QIP](http://media.assettype.com/barandbench%2Fimport%2F2009%2F11%2Faban.jpg?w=480&auto=format%2Ccompress&fit=max)
India’s largest offshore drilling company, Aban Offshore, is concluding a Qualified Institutional Placement today. The company is planning to raise a maximum of Rs. 1,000 crore ($216 million) through the QIP. The funds raised through the issue will be used to repay Aban’s debt, which currently stands at about $410 million (Rs. 1,896 crore) and is due by December this year.