Name Change: Anil Ambani's This Reliance Company Is Now... - Details

In a significant development, Swan Energy Limited (SEL) has announced the renaming of Reliance Naval and Engineering Limited (RNEL) to Swan Defence and Heavy Industries Limited, effective January 2, 2025.

The announcement was made via an exchange filing where the company stated, “In furtherance to our intimations and updates in relation to the acquisition by Swan Energy Limited (‘SEL’) through a Special Purpose Vehicle, namely Hazel Infra Limited (‘HIL’) of RNEL through National Company Law Tribunal (‘NCLT’), we wish to bring into the notice of all concerned that, the name of RNEL has been changed to ‘Swan Defence and Heavy Industries Limited’ w.e.f. January 02, 2025.”

Swan Energy and Reliance Naval and Engineering Limited - Details

Last year, SEL acquired RNEL, formerly an Anil Ambani group company, through a special purpose vehicle comprising Swan Energy, Hazel Mercantile Ltd, and businessman Nikhil Merchant and his family. The acquisition, completed under the guidance of the National Company Law Tribunal (NCLT), marks a pivotal move for Swan Energy’s ambitions.

About Swan Energy 
Swan Energy is in the textile, real estate, energy and petrochemical sectors. The company's market cap stands at Rs 23,383.88 cr. The share has a 52-week high of 809.70 and a low of 427.80.

Swan Energy Share Price Today 
On Friday, the stock opened at 752.30, reached a high of 758.75, and a low of 742.40. Over the last 10 years, it has experienced a remarkable gain of 1267.12%, with a 507.67% increase in the past 5 years and a 415.30% surge in the last 3 years. In the short term, the stock has gained 50.75% in the past year, 21.87% in the last 6 months, and 1.99% in the past week.

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