Swan Defence and Heavy Industries Ltd has announced that its promoter, Hazel Infra Limited, is evaluating a proposal to sell about 5.01% of equity shares via the Offer for Sale mechanism. The move aims to achieve Minimum Public Shareholding compliance as per SEBI regulations.
Swan Defence and Heavy Industries Ltd, formerly known as Reliance Naval and Engineering Ltd, has informed the exchanges that Hazel Infra Limited, one of its promoters, has expressed intent to explore selling approximately 5.01% of the company’s equity shares through the Offer for Sale (OFS) route. The proposed sale is aligned with SEBI’s requirement to meet Minimum Public Shareholding (MPS) norms.
Key Highlights
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The communication was made under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015
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Hazel Infra Limited intends to use the stock exchange mechanism for the OFS, in line with SEBI circulars
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The objective of the sale is to achieve compliance with Minimum Public Shareholding norms
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The proposal is currently under evaluation, and further disclosures will be made once the promoter finalizes the decision
Source: Swan Defence and Heavy Industries Ltd filing with BSE Limited and National Stock Exchange of India Limited