Swan Energy Limited: The name of Anil Ambani’s company has now changed. This company will now be known by a new name from the new year. We are talking about Reliance Naval and Engineering Limited (RNEL).
Actually, Swan Energy Limited said in the exchange filing that the acquired company Reliance Naval and Engineering Limited (RNEL) has been renamed as ‘Swan Defense and Heavy Industries Limited’. The name change has been implemented from January 02. Let us tell you that Swan Energy Limited completed the acquisition of Anil Ambani’s company Reliance Naval and Engineering last year. Trading of shares of Reliance Naval and Engineering on BSE is closed and the last share price is Rs 2.27.
What is the detail
Let us tell you that last year, Swan Energy Limited acquired the erstwhile Anil Ambani Group company Reliance Naval and Engineering (RNEL). With the help of the new acquisition, Swan Energy Limited plans to transform itself into the largest private company in the construction of naval defense and oil and gas ships. It will also aim to become the largest player in green ship-breaking, ship repair and a hub of global manufacturing in the Asia Pacific region.
Swan Energy, in partnership with businessman Nikhil Merchant and his family, and Hazel Mercantile Limited, acquired RNEL through a special purpose vehicle. In December 2023, the National Company Law Tribunal approved a Rs 2,100 crore bid for RNEL. Swan Energy, a diversified business group with interests in oil and gas, real estate and textiles, holds a 74% stake in the SPV, while Hazel Mercantile holds the rest.
condition of shares
Shares of Swan Energy Limited rose over 2% to Rs 758.75 in early trade today, Friday. The stock’s 52-week high is Rs 809.70 and 52-week low is Rs 437.80.
