The shares of the leading real estate developer soared 15 percent to Rs 342.80 on Monday after the company board approved a preferential share offer to a Singapore-based entity worth up to Rs 1,435 crore. 

At 10.25 a.m., Swan Energy Ltd shares were trading at Rs 316.35 per share, up 6 percent on NSE from the previous close price. The company has a market capitalization of Rs 7,935 crore. 

According to the company’s exchange filing, the company board approved the issuance of up to 2,90,00,000 equity shares with a face value of Rs. 1 each at a price of Rs 495 each from GCP INAB PTE.LTD, which is registered as a foreign portfolio investor in India. (with a premium of Rs 494 per share) totaling up to Rs 1,435 crores. 

Swan Energy Ltd shares have delivered returns of 50 percent in the last six months and 38 percent in the last year. 

Swan Energy’s revenue has increased by 210 percent yearly, from Rs 260 crore in Q1FY23 to Rs 804 crore in Q1FY24. During the same time, the company’s net profit has increased from a loss of Rs 49 crore to a profit of Rs 144 crore. 

According to the latest shareholding pattern, the company promoters hold 64.09 percent of the company, while Foreign institutional investors hold 17.12 percent and domestic institutional investors own a 2.89 percent stake. 

Swan Energy Limited is engaged in the business of textile, real estate, energy, and petrochemical sectors. The company also manufactures and markets cotton and polyester sarees and shirtings in India. 

Written by Omkar Chitnis


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