Swan Energy informs the exchange about acquisition of 26.51 crores equity shares of Rs. 10/- each, representing 49% of Triumph Offshore Private Limited (TOPL), from Indian Farmers Fertiliser Cooperative Limited (IFFCO) at a total price of Rs. 440 crore, as per duly executed Share Purchase Agreement.
Swan Energy holds 51% equity in TOPL, after the acquisition TOPL will become 100% subsidiary of the company. The Board meeting commenced on June 24, 2024 and concluded at 3:10 PM, in which the board of directors considered and approved the acquisition worth Rs. 440 crores. The nature of consideration is Cash and indicative time period for completion of the acquisition on or before August 10, 2024.
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About Triumph Offshore Private Limited
Incorporated in May, 2017, TOPL operates FSRU vessel. The company has shown significant financial growth with turnover of Rs. 646.90 crore in FY24, Rs. 204.24 crore in FY23 and Rs. 47.51 crore in FY22. The company had Share Capital of Rs. 53.50 crore, based on Audited Financial as on March 31, 2024. The Company have a registered office at Memnagar, Bodakdev, Ahmedabad, Gujarat.
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