Swan Defence and Heavy Industries Limited has informed the Exchange about communication as received from Hazel Infra Limited, a promoter of the Company, expressing their intention to evaluate a proposal to sell approx. 5.01% of equity shares of the Company through the Offer for Sale (OFS) mechanism, specifically through the stock exchange mechanism in order to achieve Minimum Public Shareholding.
SWANDEF · price
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Swan Defence and Heavy Industries Limited (formerly Reliance Naval and Engineering Limited) has informed the stock exchanges that its promoter, Hazel Infra Limited, intends to explore selling approximately 5.01% of the company's equity shares through the Offer for Sale (OFS) route on the stock exchanges. The purpose of this potential sale is to bring the company into compliance with the SEBI-mandated Minimum Public Shareholding (MPS) requirement of 25%. As of the filing date, the proposal is still under evaluation, and the company will make further disclosures once the promoter confirms the plan. The OFS will be carried out as per applicable SEBI circulars using the stock exchange mechanism.
If executed, this 5.01% promoter OFS will increase public float and bring the company closer to MPS compliance, which is positive for governance and trading liquidity. However, the offer could create short-term supply-side pressure on the stock price, and the final size, timing, and price details are yet to be announced.