Swan Energy

Swan Energy shares fly 11%, hits record amid heavy volumes; up 35% in 1 mth

The shares of the company were in great demand, as a total of 0.66 million equity shares worth Rs 51.15 cr exchanged hands on the BSE, by 1:45 PM. Similarly, 24.19 million shares worth Rs 1,858.22 cr

Here's why Swan Energy shares jumped 5% on December 2; details here

The rise in the Swan Energy share price came after the company announced that it has resumed operations at its Shipyard ('Reliance Naval and Engineering Limited or RNEL')

Swan Energy likely to sell FSRU stake to Turkey's Botas for $400 million

Billionaire Nikhil Merchant-led Swan Energy Ltd has said it plans to sell its stake in a floating LNG receipt terminal to Turkey's state-run Botas for USD 399 million. The company plans to sell assets of subsidiary Triumph Offshore Pvt Ltd to Botas Trading IC, according to a regulatory filing. "The definitive documents shall be signed in due course," it said, adding the deal is likely to be completed in six months. The sale consideration of USD 399 million is to be received in multiple tranches over an unspecified period. Triumph Offshore Private Limited (TOPL) owns a 5 million tonnes a year floating storage and regasification unit (FSRU) called Vasant-1. Swan Energy holds 51 per cent in TOPL while fertiliser maker IFFCO the remaining 49 per cent. The filing did not say if IFFCO is also offloading its stake. Swan is building a liquefied natural gas (LNG) import facility at Jafrabad in Gujarat. In the initial phase, gas, which is used to make fertilizers, generate electricity and

Swan Energy paid Rs 331 crore to lenders before due date of Dec 23, 2024

SEL had recently received approval from the NCLT-appointed monitoring committee of RNEL to constitute its own board, paving the way for a formal handover of management control

Swan Energy's shares locked in upper circuit twice in two days; here's why

Shares of Swan Energy got locked in the 5 per cent upper circuit at Rs 727.20 per share on the NSE in Tuesday's early morning deals

Stocks to watch, July 9: Dixon Tech, Swan Energy, Bajaj Finserv, Senco Gold

Stocks to watch on July 9: Three Blackrock affiliates acquired a stake worth Rs 304 crore in Swan Energy through open market transactions on Monday

BlackRock buys 4.55 mn shares of Swan Energy worth Rs 304 cr via block deal

Global asset manager BlackRock on Monday bought shares of Swan Energy for Rs 304 crore through open market transactions. US-based BlackRock through its three affiliates acquired 45.56 lakh shares, amounting to a 1.45 per cent stake in Mumbai-based Swan Energy, as per the block deal data available with the National Stock Exchange (NSE). The shares were picked up at an average price of Rs 668.27 apiece, taking the combined deal size to Rs 304.50 crore. Meanwhile, Mauritius-based private equity fund 2i Capital PCC, EOS Multi-Strategy Fund AIFLNP VCIC, Dovetail India Fund, Epitome Trading and Investments and Paulomi Ketan Doshi were among the entities which offloaded shares of Swan Energy. The shares were disposed of in the price range of Rs 666.20-692.60 per piece. Shares of Swan Energy jumped 5 per cent to close at Rs 692.60 apiece -- its upper circuit limit -- on the NSE. Swan Energy operates across sectors including textiles, real estate, energy, and petrochemicals.

Iffco withdraws case against Triumph Offshore, Swan Energy in NCLT

Iffco recently exited TOPL by selling its 49 percent stake to Swan Energy for Rs 440 crore

Swan Energy rises 3% after board okays 49% stake buy in TOPL for Rs 440 cr

The uptick in share came after board of Swan Energy approved acquisition of 49 per cent equity stake in Triumph Offshore Private Ltd from Indian Farmers Fertiliser Cooperative Ltd for Rs 440 cr

Stocks to watch on June 25: IndiGo, KIMS, Borosil, Swan Energy, RBL Bank

Stocks to watch on June 25: Swan Energy is set to acquire a 49 per cent equity stake in Triumph Offshore Private Ltd (TOPL) from Indian Farmers Fertiliser Cooperative Ltd (IFFCO) for Rs 440 crore

Swan Energy's stock slides 5% as net profit takes beating in Q4 show

Shares of Swan Energy fell 4.9 per cent at Rs 574.75 per share on the BSE in Friday's intraday deals. This came after the company delivered a double digit drop in its net profits

Swan Energy, Suven Pharma, Jio Fin among eight stocks to watch on May 31

Stocks to watch on May 31: Swan Energy reported a decline in profit by 10.5 per cent year on year (Y-o-Y) to Rs 55.5 crore as against Rs 62.1 crore in Q4FY23

NCLT denies relief to Iffco, asks Triumph to discuss issues before Apr 4

The National Company Law Tribunal has directed Swan Energy-IFFCO joint venture Triumph Offshore to hold a board meeting before April 4 to discuss issues raised by minority shareholder IFFCO regarding feasibility and viability of offering services to operate vessels. The NCLT (National Company Law Tribunal) has set April 4 as the next date of hearing of a plea filed by IFFCO, seeking to restrain Triumph Offshore from passing any resolution without its approval and issuing any share/security to the lenders for paying loans. Triumph Offshore is a joint venture between fertiliser player IFFCO and Swan Energy Ltd (SEL) which is engaged in onshore gas distribution terminal business. The joint venture was formed to set up a floating storage and regasification unit (FSRU). FSRU is a floating vessel having tanks for LNG storage. SEL has a 51 per cent stake and IFFCO owns 49 per cent in Triumph Offshore. Earlier this month, IFFCO moved the Ahmedabad bench of the NCLT, seeking to restrain ...

Swan Energy's natural gas business arm prepays Rs 2,206 crore debt

Swan Energy on Monday said its natural gas business arm Swan LNG Pvt Ltd has prepaid Rs 2,206 crore of loan taken from a consortium of lenders. Post-prepayment, Swan LNG's debt has come down to Rs 1,611 crore and the firm will save around Rs 250 crore in interest cost annually, the company said in a statement without disclosing the lenders' names. Before the repayment, the group's overall debt stood at Rs 3,817 crore as of December 2023. To facilitate the pre-payment, the parent company Swan Energy has lent Rs 2,210 crore to Swan LNG. Swan Energy had last week raised Rs 3,000 crore through a qualified institutional placement of equities to SBI Life, LIC, LIC Mutual Fund, Tata Mutual Fund, Infini Mutual Fund, 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 Quant Mutual Fund, among others. Meanwhile, public sector fertilizer major IFFCO, which has a joint venture with S

Stocks to watch: Jio Fin, Vedanta, Info Edge, Asian Paints, Swan Energy

Stocks to watch on March 04, 2024: Jio Financial Services is the sole addition to the S&P BSE Large Cap, as revealed by the Bombay Stock Exchange

Here's why shares of Swan Energy will be in focus on Monday

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

Iffco moves NCLT against Triumph Offshore, Swan Energy for restrain orders

IFFCO has moved the NCLT against Swan Energy Ltd (SEL) and their joint venture Triumph Offshore to restrain their JV firm from passing any resolution without its approval and issuing any share/security to the lenders against loans. Seeking an injunction against any such proposal, IFFCO, in its petition filed before the Ahmedabad bench of the NCLT, alleged that Triumph Offshore is pre-paying the debt, which may result in dilution of its shareholding in the joint venture firm and is detrimental to its interest. IFFCO has moved the NCLT under sections 241 and 242 of the Companies Act 2013, alleging oppression and mismanagement. It has prayed to restrain Swan Energy and Triumph Offshore "from passing any board resolution without the prior written approval of petitioner (IFFCO), with reference to the substitution of the bank term loan with promoters loan or from issuing any shares/security or any instrument convertible into equity in favour of R2 (SEL) or any third party, which may resul

Swan Energy declines 3.6% on profit booking; Co raises Rs 3,300-cr via QIP

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

Swan Energy raises Rs 3,000 cr via QIP of shares priced at Rs 670 apiece

Swan Energy on Thursday said it has raised Rs 3,000 crore from qualified institutional placement of shares which were priced at Rs 670 apiece. The issue got interest from qualified institutional investors including Quant Mutual Fund, SBI Life, LIC, LIC Mutual Fund, Tata Mutual Fund, Infini Mutual Funds, SBI General Insurance, BNP Paribas Mutual Fund, Nomura, Goldman Sachs, Future Generali, Anand Rathi, and other domestic and foreign institutions and family offices, the company said. The fund will be deployed to modernise the recently acquired Reliance Naval and Engineering's shipyard at Pipavav. Additionally, a portion of the fund will be allocated for project expansion and debt reduction. Paresh Merchant, an executive director of Swan said taking management control of Reliance Naval -- the largest defence shipyard in the country -- aligns with their vision to emerge as a leading private player in the manufacture of defence, commercial, and oil and gas vessels. The company aims to

Swan Energy's QIP opens with starting price fixed at Rs 703 per share

Swan Energy on Tuesday announced opening of its Rs 4,000 crore fund raise through a qualified institutional payment (QIP), with a starting price fixed at Rs 703.29 per share. In a stock exchange filing, Swan said pricing of the issue would be decided on February 26. Swan Energy, in December 2023, acquired Reliance Naval and Engineering through Hazel Mercantile, a special purpose vehicle.