 "oil shipment, crude oil, oil export")
Shares of Swan Energy will be in focus on Monday, March 4, after the company's subsidiary, SLPL, pre-paid the entire loan, along with interest till date.
According to the company's exchange filing, SLPL, subsidiary of the company, has pre-paid the entire loan, along with interest till date, to the consortium of Banks, amounting to Rs 2,206 crore.
"The group's external debt position was Rs 4,128 crore in September 2023, which was reduced to Rs 3,817 crore in December 2023. It now stands at Rs 1,675 crore," it said in a statement.
The company, the statement added, is fully focused on growth and in-parallel is continuously endeavoring to reduce debt from the balance sheet.
The moves after Swan Energy raised Rs 3,319 crore via Qualified Institutions Placement (QIP) last week.
READ: Iffco moves NCLT against Triumph Offshore, Swan Energy for restrain orders
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It allotted 49.5 million shares to eligible, qualified institutional buyers at the issue price of Rs 670 per share against the floor price of Rs 703.29 per share.
Some of the marquee investors included Quant Mutual Fund, SBI Life, LIC, LIC Mutual Fund, Tata Mutual Fund, Infini Mutual Funds, SBI General Insurance, BNP Paribas Mutual Fund, Nomura, Diamond Asia, Bank of India Mutual Fund, ITI Mutual Fund, Goldman Sachs, Future Generali, Anand Rathi, and other domestic and foreign institutions and family offices.
Swan Energy has diversified interests in real estate, textiles, oil & gas, defence and commercial shipbuilding and ship repairs, and heavy fabrication. It has intensified its shipyard restoration efforts, focusing on activities such as dredging, reinstatement of licenses and certifications, implementation of industry-standard safety measures, and upgrading basic utilities.
A dedicated arm of the Swan Group is overseeing procurement and supply chain management to meet the demands of downstream activities. It is also planning to upskill and absorb employees through an internal selection process, while ensuring full compliance with statutory requirements.
