Board of Swan Energy approves acquisition of balance stake in Triumph Offshore

At meeting held on 24 June 2024

The Board of Directors of Swan Energy (SEL) at its meeting held on 24 June 2024, have inter alia, considered and approved the acquisition of 26,21,50,000 equity shares of Rs. 10/- each of Triumph Offshore (TOPL) (representing 49% of total equity of TOPL) from Indian Farmers Fertiliser Cooperative (IFFCO) at a total price of Rs. 440 crore, as per duly executed Share Purchase Agreement. With the above acquisition, TOPL shall become 100% subsidiary of the company.