BlackRock buys 45.56 lakh shares of Swan Energy worth Rs 304 Cr
US-based BlackRock through its three affiliates acquired 45.56 lakh shares, amounting to a 1.45 per cent stake in Mumbai-based Swan Energy, as per the block deal data available with the National Stock Exchange (NSE).
Global asset manager on Monday bought shares of Swan Energy for Rs 304 crore through open market transactions.
US-based BlackRock through its three affiliates acquired 45.56 lakh shares, amounting to a 1.45 percent stake in Mumbai-based Swan Energy, as per the block deal data available with the National Stock Exchange (NSE).
The shares were picked up at an average price of Rs 668.27 apiece, taking the combined deal size to Rs 304.50 crore.
Meanwhile, Mauritius-based private equity fund 2i Capital PCC, EOS Multi-Strategy Fund AIFLNP VCIC, Dovetail India Fund, Epitome Trading and Investments and Paulomi Ketan Doshi were among the entities which offloaded shares of Swan Energy.
The shares were disposed of in the price range of Rs 666.20-692.60 per piece.
Shares of Swan Energy jumped 5 per cent to close at Rs 692.60 apiece—its upper circuit limit—on the NSE.
Swan Energy operates across sectors including textiles, real estate, energy, and petrochemicals.
Earlier in April, Jio Financial Services (JFS) has signed a joint venture with American financial heavyweight BlackRock to provide wealth management and brokerage services in India, building on their formative partnership with an asset management company.
"This joint venture further strengthens the Company’s relationship with Blackrock, Inc., with whom the Company had announced a 50:50 joint venture on July 26, 2023 to transform India’s asset management industry through a digital-first offering and democratise access to investment solutions for investors in India," JFS said in a regulatory filing.
(Disclaimer: Additional background information has been added to this PTI copy for context)
Edited by Megha Reddy
