Swan Energy Limited announced a private placement of up to 23,000,000 equity shares of face value of INR 1 each at a price of INR 300 each, including premium of INR 299 per share for gross proceeds of up to INR 6,900,000,000 on June 27, 2023. The shares are issued on a preferential basis to the non-promoter, new investor GCP Inab Pte. Ltd. The transaction was approved by the board of directors of the company.

The transaction is subjected to the approval of shareholders in its Extra-Ordinary General to be held on July 20, 2023, through Video Conferencing/Other Audio-Visual Means. The issue and allot, will happen in one or more tranches, to the non-promoter. The equity shares to be allotted shall rank pari passu in all respects with the existing equity shares of the Company including dividend.