Avoid Aban Offshore at this point of time: Seshadri Bharathan

Seshadri Bharathan, MD & CEO, KSEMA Fincon Ltd, in a chat with ET Now talks about Aban Offshore.

What is your call on Aban Offshore (850 is where its trading at this point of time)?

I think company is under severe stress because of the higher level of debt around 15000 crore. It remains to be seen as to how much equity company would have to dilute for raising this $400 million equity money. So at this point of time I would suggest that yes good stock to invest but at this point of time investor should stay away from investing in this stock.

So when exactly would you recommend investment into Aban?

When the clarity emerges on repayment of debt.

And what levels probably?

My sense would be as and when that happens would happen in a years' time.