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Swan Energy sizzles as BlackRock buys stake
09-Jul-24 14:45Hrs IST

As per the stock exchange data, the BlackRock Emerging Frontiers Master Fund and BlackRock Global Funds India Fund acquired 0.78% and 0.58% stake in Swan Energy, respectively.

The BlackRock Emerging Frontiers Master Fund bought 24.58 lakh shares, while the BlackRock Global Funds India Fund acquired 18.20 lakh shares. Another fund, the BlackRock Strategic Funds - BlackRock Asia Pacific Absolute Return Fund also acquired 2.78 lakh shares (0.09% equity). These shares were purchased at Rs 668.27 per share.

This marks a fresh investment in Swan Energy for BlackRock, as they did not hold any shares in the company during the March quarter.

Meanwhile, 2i Capital PCC, EOS Multi-Strategy Fund AIFLNP V.C.I.C, Dovetail India Fund, Epitome Trading and Investments and Paulomi Ketan Doshi were among the entities which offloaded shares of Swan Energy on Monday.

As of the quarter that ended on March 31st, 2i Capital PCC had a 1.9% stake in Swan Energy, while the Dovetail India Fund had a 1.39% stake.

Swan Group is among India's leading private sector business houses serving the nation for more than a century across textile, real estate and oil & gas sectors. On a consolidated basis, the company reported a 10.55% YoY decline in net profit to Rs 55.58 crore while revenue from operations climbed 49.79% to Rs 1,397.90 crore in Q4 FY24.

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