QIP
| March 4, 2024, 9:58 a.m.
Swan Energy Subsidiary Repays ₹2,206 Crore Loan, Achieves Significant Debt Reduction
Swan Energy Limited's subsidiary, Swan LNG Private Limited (SLPL), has fully repaid a loan of approximately ₹2,206 crore to a consortium of banks, resulting in significant interest savings. This prepayment contributes to Swan Energy's overall debt reduction strategy, with plans for utilising funds from a recently concluded Qualified Institutions Placement (QIP) to further reduce debt and modernise its shipyard facility. Despite the positive news, Swan Energy's shares witnessed a slight decline on the stock exchange.
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