Aban Offshore's Dramatic Fall: From ₹5000 to ₹30, Now in Insolvency

• Aban Offshore, once a top Indian offshore drilling firm valued at ₹24,000 crore, saw shares plummet from ₹5,000 to ₹30.
• Decline began with ₹6,400 crore debt for Sinvest acquisition, followed by 2010 Aban Pearl rig sinking and ₹800-900 crore revenue loss.
• Crude oil price crash (2014-16) and Covid pandemic (2020) further crippled operations, leading to ₹14,880 crore debt by 2025.
• Company is now in IBC process via NCLT; NCLAT adjourned hearing to March 27, 2026, for settlement talks with PNB.
• Despite insolvency, shares recently rose 15% in a week, closing at ₹21.24 on March 6, 2026.