Swan Defence and Heavy Industries Limited has informed the Exchange about receiving an application for pre-dealing approval along with necessary undertaking, in connection with the Offer for Sale of Shares through stock exchange mechanism by Hazel Infra Limited, Promoter of the Company for disposal of upto 26,38,747 nos. equity shares of the Company.
SWANDEF · price
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Swan Defence and Heavy Industries has received an application from its promoter, Hazel Infra Limited, seeking pre-dealing approval to sell up to 26,38,747 equity shares through the Offer for Sale (OFS) route on the stock exchanges. Hazel Infra currently holds 5,00,00,000 shares in the company, meaning the proposed sale represents roughly 5.3% of the promoter's own holding. The shares will be offloaded on 18th and 19th March 2026, with the reference price being Rs. 2,393.95 (BSE closing on 16th March 2026), implying a transaction value of around Rs. 631 crore at current prices. The company (formerly Reliance Naval and Engineering) has informed both BSE and NSE of the receipt of this pre-clearance application as required under insider trading regulations.
This is a promoter sell-off, which is generally viewed negatively by retail investors as it signals the promoter is reducing its stake. The sale will increase the float in the market and could put short-term pressure on the stock price, though it also provides an opportunity for institutional and retail buyers to pick up shares at a market-determined price through the OFS mechanism.