Swan Energy's QIP Opens At Rs 703.29/share

Swan Energy launches Rs 4,000 crore QIP at Rs 703.29/share. Pricing to be determined on Feb. 26. The company acquired Reliance Naval and Engineering in December 2023.

<div class="paragraphs"><p>(Source: Swan Energy/X)</p></div>
(Source: Swan Energy/X)

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 Feb. 26.

Swan Energy, in December 2023, acquired Reliance Naval and Engineering through Hazel Mercantile, a special purpose vehicle.