Swan Energy has received approval from board of directors for purchase of 1,47,45,720 equity shares of Rs 1 each, representing 55% of the fully diluted equity share capital, from the existing promoters & promoter group of Veritas India at a price of Rs 117 per share aggregating to Rs 172.52 crore and to acquire 69,70,600 equity shares of face value of Rs 1 each, representing 26% of the fully diluted equity share capital from the existing public shareholders of Veritas (India) via mandatory open offer at a price of Rs 126 per share aggregating Rs 87.83 crore or such higher price as may deem fit. The board of directors of the company at its meeting held on May 20, 2022 have inter alia, considered and approved the same.
Swan Energy is an emerging green energy company with a successful track record in infrastructure projects and textiles too.
