Swan Energy Ltd increases stake in Triumph Offshore Pvt Ltd to 100%

The Board of Directors of Swan Energy Limited ("SEL") at its meeting held on June 24, 2024, have considered and approved the acquisition of 26,21,50,000 equity shares of Rs. 10/- each of Triumph Offshore Private Limited (TOPL) (representing 49% of total equity of TOPL) from Indian Farmers Fertiliser Cooperative Limited ("IFFCO") at a total price of Rs. 440 Crore, as per duly executed Share Purchase Agreement.

With the above acquisition, TOPL shall become 100% subsidiary of the company.

Shares of Swan Energy Limited was last trading in BSE at Rs. 655.25 as compared to the previous close of Rs. 649.75. The total number of shares traded during the day was 75373 in over 4005 trades.

The stock hit an intraday high of Rs. 663.10 and intraday low of 639.40. The net turnover during the day was Rs. 49273180.00.

Source : Equity Bulls

Keywords

SwanEnergy INE665A01038 StakeAcquisition TriumphOffshore IFFCO