Swan Defence and Heavy Industries Limited has received regulatory disclosure from its promoter Hazel Infra Limited regarding the disposal of 26,38,747 equity shares through an Offer for Sale (OFS) mechanism. The transaction, completed on March 18 and 19, 2026, represents a significant reduction in the promoter's shareholding in the defence company.

Transaction Overview

The OFS involved the sale of 26,38,747 equity shares of face value Rs. 10 each, representing 5.01% of Swan Defence's total paid-up equity share capital. The transaction was executed across two trading days with specific allocation patterns for different investor categories.

Daily Allocation Breakdown

The share sale was structured across two consecutive trading days with different investor participation patterns. On T Day (18th March, 2026), Hazel Infra sold 23,74,872 equity shares exclusively to non-retail investors based on valid bids received. On T+1 Day (19th March, 2026), the remaining 2,63,875 equity shares were allocated to both non-retail and retail investors.

Shareholding Changes

The transaction resulted in a substantial reduction in Hazel Infra's promoter holding in Swan Defence and Heavy Industries Limited. The company's shareholding structure underwent significant changes following the completion of the OFS.

Regulatory Compliance

The OFS was conducted in strict accordance with SEBI's comprehensive framework for share sales through stock exchange mechanisms. The transaction followed guidelines specified in SEBI circular SEBI/HO/MRD/MRD-PoD-3/P/CIR/2023/10 dated January 10, 2023, along with the Master Circular for Stock Exchange and Clearing Corporations issued through circular SEBI/HO/MRD-PoD2/CIR/P/2024/00181 dated December 30, 2024.

The disclosure was made under Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, with Hazel Infra fulfilling its obligation to inform within 2 working days of the transaction completion. The OFS was executed on designated windows of both BSE Limited and National Stock Exchange of India Limited, ensuring broad market access for potential investors.

Swan Defence and Heavy Industries Limited received the formal disclosure on March 24, 2026, through its Company Secretary & Compliance Officer Priti P. Dave, confirming the completion of the regulatory notification process.

Swan Defence & Heavy Industries has successfully achieved the requisite Minimum Public Shareholding (MPS) through a completed Offer for Sale (OFS) conducted on March 19, 2026. The company announced that promoters sold 26,38,747 equity shares, bringing the public shareholding to 10.10% and ensuring compliance with regulatory requirements.

OFS Completion and Results

The OFS transaction was successfully executed on March 19, 2026, with promoter entity Hazel Infra Limited disposing of the approved quantum of equity shares. This completion follows the earlier announced OFS structure with a floor price of ₹1,900 per share, which was aimed at achieving minimum public shareholding compliance.

Revised Shareholding Structure

Following the successful completion of the OFS, Swan Defence & Heavy Industries has provided updated shareholding details as of the completion date. The transaction has resulted in the company achieving the mandatory minimum public shareholding threshold.

Regulatory Compliance Achievement

The company has formally communicated the achievement of requisite Minimum Public Shareholding to both BSE and NSE through an official notification dated March 23, 2026. Company Secretary and Compliance Officer Priti P. Dave (ACS: 19469) signed the compliance communication, confirming the successful completion of the regulatory requirement.

Corporate Information

Swan Defence & Heavy Industries Limited, formerly known as Reliance Naval and Engineering Limited, operates from its registered office at Pipavav Port, Post Uochaiya, Via-Rajula, Dist. Amreli, Gujarat. The company maintains its corporate office at Vakil's House, Ballard Estate, Mumbai, and trades on both BSE (Scrip Code: 533107) and NSE (Symbol: SWANDEF) with CIN: L35110GJ1997PLC033193.

The successful completion of the OFS marks a significant milestone for the defence sector company, ensuring full compliance with minimum public shareholding norms while providing public investors with increased participation in the company's equity structure.