Swan Energy announced that its subsidiary, Swan LNG (SLPL) has repaid entire loan of Rs 2206 crore along with interest to the consortium of banks. With the prepayment, SLPL will save around Rs.250 crore in interest payment, which will strengthen Swan group`s balance sheet leading to a possible upgrade and re-rating. Post prepayment, SEL`s debt has come down to Rs. 1675 crore. The external debt position of the group was ~Rs.4128 crore in September 2023, which reduced to ~Rs.3817 crore in December 2023. To facilitate the pre-payment, SEL has lent Rs.2210 crore to SLPL. SEL has recently raised Rs. 3,000 crore through a Qualified Institutions Placement (QIP). The funds raised through the QIP will be strategically deployed towards the modernization of the recently acquired erstwhile Reliance Naval and Engineering (RNEL) shipyard at Pipavav. Additionally, a portion of the funds will be allocated for project expansion and debt reduction.Powered by Capital Market - Live News

Swan Energy (SEL) has successfully raised Rs. 3,000 crore through a Qualified Institutions Placement (QIP). The QIP was priced at Rs. 670 per share, inclusive of a premium of Rs. 669 per share. The QIP garnered significant 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, 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. The funds raised through the QIP will be strategically deployed towards the modernization of the recently acquired erstwhile Reliance Naval and Engineering Ltd (RNEL) shipyard at Pipavav. Additionally, a portion of the funds will be allocated for project expansion and debt reductionPowered by Capital Market - Live News

Swan Energy has allotted 4,95,39,886 equity shares of face value of Re 1 each to eligible qualified institutional buyers at the issue price of Rs 670 per equity share (including a premium of Rs 669 per equity share) against the floor price of Rs 703.29 per equity share, aggregating to Rs 33,19,17,23,620, pursuant to the QIP issue. Powered by Capital Market - Live News

Swan Energy will hold a meeting of the Board of Directors of the Company on 28 February 2024.Powered by Capital Market - Live News

Swan Energy has launched a QIP issue on 20 February 2024 with floor price of Rs 703.29 per equity share. Powered by Capital Market - Live News