The Board of M/s Indian Farmers fertilizer Cooperative Limited (IFFCO) has approved the proposal for making investment of Rs. 262.15 Crore by subscribing 26.215 Crore equity shares of Rs. 10/- each at par in Triumph Offshore Pvt. Ltd. (TOPL), 100% subsidiary of the Company.
In this regard, a 'Share Subscription and Shareholders Agreement' (SHA) has been executed between TOPL, IFFCO and the Company.
Post allotment, the shareholding pattern of the TOPL will be as under:
Swan Energy Limited (SEL) - 51.00% and Indian Farmers fertilizer Cooperative Limited (IFFCO) - 49.00%.
The LNG Port Project, all weather greenfield Port Project, is being developed by other subsidiary of the company, namely M/s Swan LNG Private Limited (SLPL).
Shares of SWAN ENERGY LTD. was last trading in BSE at Rs.100.8 as compared to the previous close of Rs. 100.55. The total number of shares traded during the day was 70390 in over 691 trades.
The stock hit an intraday high of Rs. 101.5 and intraday low of 99.75. The net turnover during the day was Rs. 7060544.