Disclosure under Regulation 30 of SEBI(LODR).
SWANDEF · price
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Awaiting price reaction for this filing.
Swan Defence and Heavy Industries Limited (formerly Reliance Naval and Engineering Limited) has disclosed that both BSE and NSE have imposed penalties on the company for failing to maintain the required Minimum Public Shareholding as specified under Rule 19(2) and Rule 19A of the Securities Contracts (Regulation) Rules, 1957. A penalty of Rs. 5,31,000 (inclusive of GST) has been imposed separately by each exchange till March 31, 2025, totaling roughly Rs. 10.62 lakh combined. The company received communication about the penalty via email on May 19, 2025. The company has stated there is no material financial, operational, or other impact from the action except for the penalty amount itself.
The penalty amount is small and immaterial to the company's overall financials. However, the continued non-compliance with minimum public shareholding norms remains a concern for investors as the company has not yet rectified this regulatory requirement.