The company on Wednesday approved a proposal to raise ₹1,000 crore through a private placement of bonds
On Wednesday, shares of the company, which fell to a 52-week low of ₹35.99 on January 20 this year, were suspended after hitting the 5 per cent high at ₹1,036.45 per share. The company’s market capitalization was over ₹5,400 crore.
The company on Wednesday approved a proposal to raise ₹1,000 crore through a private placement of bonds. In the second quarter, the loss narrowed to ₹20 lakh from the earlier ₹53 lakh in the same period last fiscal.
Deal boost
The company’s shares came into the spotlight on November 10 after the company announced it had signed a Letter of Intent (LoI) with European ship owner and operator Rederiet Stenersen AS for the construction of six IMO Type II chemical tankers, valued at $220 million. The company’s shares also hit the 5 percent upper limit that day.
At the end of March 2025, there were 190 employees on the SDHI list. According to the company’s latest annual report, the average percentile increase in salaries of employees other than managerial staff in the last fiscal year was 19.03 percent, while the average percentile increase in salaries of key management personnel is 10 percent.
Swan Energy acquired the former Reliance Naval and Engineering in a bankruptcy process and renamed it Swan Defense and Heavy Industries in January 2025. The company also owns Pipavav Shipyard in Gujarat, the largest shipbuilding yard in India, with a capacity to build ships up to 400,000 Dead Weight Tonnage (DWT) and a production capacity of 144,000 tonnes. However, it lay defunct for almost a decade before Swan Energy took it under its wing.
In FY25, work began at Pipavav shipyard and three refit projects for the Indian Coast Guard were completed ahead of schedule. On November 22, 2024, the company’s board approved the merger of Triumph Offshore with SDHI.
In September 2025, the company signed a series of MoUs, including one with the Gujarat Maritime Board for investing ₹4,250 crore in three key projects at its Pipavav shipyard. This includes infusion of ₹3,500 crore for capacity expansion at the shipyard, including slipways, jetties, additional cranes, block fabrication and dredging. A total of ₹200 crore was earmarked for a world-class center of excellence for maritime at the shipyard and another ₹550 crore for the development of a 200-acre maritime cluster at the shipyard.
It also signed an MoU with European leader in offshore oil and gas vessels, Royal IHC, to combine their expertise, infrastructure and geographical advantages to design, build and modernize offshore oil and gas vessels and other types of vessels. Another MoU was signed with Samsung Heavy Industries, one of the world’s leading shipbuilders, to jointly explore commercial shipbuilding and heavy engineering projects in domestic and international markets.
In October, during the flagship India Maritime Week 2025 held in Mumbai, Mazagon Dock Shipbuilders Limited (MDL) – India’s premier defense shipyard and a Navratna company under the Ministry of Defense – signed an exclusive Teaming Agreement (TA) with SDHI for collaboration in the design and construction of Landing Platform Docks (LPDs) for the Indian Navy.
Published on November 12, 2025
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