Swan Defence and Heavy Industries Limited, formerly known as Reliance Naval and Engineering Limited, has announced that its promoter, Hazel Infra Limited, is considering selling 5.01% of its equity shares through an Offer for Sale (OFS) mechanism.
This move is aimed at achieving the Minimum Public Shareholding (MPS) requirement.
On March 9, 2026, Swan Defence communicated that Hazel Infra Limited, a promoter of the company, is evaluating a proposal to sell approximately 5.01% of its equity shares.
The sale is intended to be conducted through the stock exchange mechanism, adhering to the guidelines set by the Securities and Exchange Board of India (SEBI).
The primary objective of this potential sale is to meet the regulatory requirement for Minimum Public Shareholding.
As per the SEBI regulations, listed companies are required to maintain a certain level of public shareholding to ensure a diverse shareholder base.
The company has stated that the proposal is currently under evaluation. Swan Defence has assured that further disclosures will be made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, once the promoter provides final confirmation.
Swan Defence, previously known as Reliance Naval and Engineering Limited, is headquartered at Pipavav Port in Gujarat, with its corporate office located in Mumbai.
The company has undergone significant changes in recent years, including a rebranding and strategic realignment.
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As of March 10, 2026, at 11:31 AM, Swan Defence and Heavy Industries share price on NSE was trading at ₹1,935.00 down by 4.25% from the previous closing price.
The potential sale of 5.01% equity shares by Hazel Infra Limited marks a significant step for Swan Defence in meeting the Minimum Public Shareholding requirements. The company is committed to adhering to SEBI regulations and will provide updates as the proposal progresses.
Disclaimer:This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Mar 10, 2026, 12:05 PM IST
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