New Launch23 Jun 2025, 08:01 pm
Swan Energy Ltd Forms Subsidiary Swan Balu Heavy Industries Private Limited for Global Defence Industry
AI Summary
Swan Energy Ltd has formed a subsidiary, Swan Balu Heavy Industries Private Limited, in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The new company, incorporated in April 2025, is a Special Purpose Vehicle (SPV) formed with Balu Forge Industries Limited for exploring business opportunities in the global defence, aerospace, railways, and nuclear industries. Swan Energy Ltd has subscribed to 60,000 equity shares of the SPV at a face value of Rs. 10/- each, acquiring 60% of the share capital through cash infusion.
Key Highlights
- Swan Energy Ltd forms a new subsidiary, Swan Balu Heavy Industries Private Limited
- Special Purpose Vehicle (SPV) formed with Balu Forge Industries Limited
- Exploring business opportunities in the global defence, aerospace, railways, and nuclear industries
- Swan Energy Ltd subscribes to 60,000 equity shares, acquiring 60% of the share capital
- New subsidiary is a related party due to Swan Energy's 60% shareholding