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.

Swan Defence & Heavy Industries Limited (SDHIL), formerly known as Reliance Naval and Engineering Limited, has reported its financial results for the second quarter of fiscal year 2026, along with plans for potential fund-raising through debenture issuance.

Financial Performance

For the quarter ended September 30, 2025, SDHIL reported:

The company's net loss for Q2 FY26 decreased by 35.5% compared to the previous quarter, while revenue from operations saw a significant increase of 842.1%.

For the half-year period ending September 30, 2025, SDHIL posted a net loss of ₹53.39 crore.

Fund Raising Considerations

The Board of Directors, in their meeting held on November 12, 2025, approved a proposal to raise funds through the issuance of unsecured non-convertible debentures on a private placement basis. Key details of the proposed debenture issue include:

• Issue size: Up to ₹1,000 crore
• Listing: Proposed to be listed on BSE Limited
• Tenure: 10 years from the date of allotment
• Interest rate: Zero percent per annum

The company plans to seek shareholder approval for this fund-raising initiative through a postal ballot process.

Corporate Actions

In addition to the financial results and fund-raising plans, SDHIL disclosed that its Board has approved a merger scheme with Triumph Offshore Private Limited. This merger is subject to regulatory approvals, including sanction from the National Company Law Tribunal (NCLT).

About Swan Defence and Heavy Industries Limited

Swan Defence and Heavy Industries Limited, operating from Pipavav Port in Gujarat, is engaged in the shipbuilding and ship repairs business. The company continues to navigate challenges in the defence manufacturing sector while exploring strategic initiatives for growth and financial stability.

The Board meeting, which commenced at 4:30 p.m. and concluded at 5:30 p.m. on November 12, 2025, addressed these key financial and strategic matters, setting the stage for SDHIL's future operations and capital structure.