Indian Farmers fertilizer Cooperative (IFFCO) is going to invest in Swan Energy’s subsidiary--Triumph Offshore (TOPL). The Board of Indian Farmers fertilizer Cooperative 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 TOPL, 100% subsidiary of Swan Energy.
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: Swan Energy (51.00%) and Indian Farmers fertilizer Cooperative (49.00%).
Swan Energy is engaged in trading in fabric as well as in development of properties. Their activity includes manufacturing and marketing of cotton and polyester sarees and shirtings in India.