Disclosure pursuant to 57 5 SEBI LODR for the quarter ended 31st March 2025.
Awaiting price reaction for this filing.
Aban Offshore has disclosed that Non-Convertible Redeemable Preference Shares (NCRPS) worth Rs.281 crores remain unredeemed, with Rs.20 crores of these being unlisted. These shares have not been redeemed since 2014, meaning the default has been ongoing for over 10 years. The company has further stated that these shares are currently under suspension. This is a routine regulatory disclosure under SEBI's Listing Obligations and Disclosure Requirements (LODR) for the quarter ended 31st March 2025, but the content highlights a long-standing financial obligation the company has been unable to meet.
This is a negative signal indicating prolonged financial stress and an unresolved liability of Rs.281 crores, which may concern existing shareholders and lenders. The decade-long non-redemption of preference shares suggests deep-seated cash flow or restructuring issues, likely weighing negatively on the stock and investor sentiment.