Swan Energy has set a floor price of ₹703.29 per share for its qualified institutional placement of shares that is opening on Tuesday.
The company is planning to raise up to ₹4,000 crore through the issue, and the proceeds will be used to reduce its debt and modernise the shipyard acquired through the takeover of Reliance Naval and Engineering under insolvency proceedings. The fund-raising committee will be meeting on February 26 to determine the issue price.
businessline had reported last week that the QIP issue was scheduled to be launched on Tuesday.
SBI Life Insurance, SBI Mutual Fund, and Life Insurance Corporation are likely to be the anchor investors, while other investors could be Quant MF, Tata MF, Bandhan MF, HDFC MF and HDFC Life Insurance, Bay Capital, BoFA, Ovata Capital, BNP Paribas, Infini Capital ITI, Goldman Sachs, and others.