According to reports from CNBC TV18 and Upstox, Swan Defence and Heavy Industries Ltd announced that its promoter entity Hazel Infra Ltd plans to sell up to 26.38 lakh equity shares, representing around 5.01% stake, through an offer for sale (OFS). The company has granted pre-dealing approval to Hazel Infra Ltd to proceed with the share sale, with Company Secretary Priti P. Dave issuing the approval on March 17, 2026, following a formal application by the promoter. The approval was communicated on March 17, 2026, following the formal application submitted by the promoter under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. As per the company's exchange filing, the approval applies only to the specified quantity of shares within the defined trading window and follows established compliance framework.
As reported by Upstox, the promoter will be selling the shares through an offer for sale (OFS) issue on the open market, with Wednesday, March 18, 2026 as the day for non-retail bidders. The OFS issue will be eligible for bidding by retail investors on Thursday, March 19, 2026. The company has disclosed that retail investors will be able to bid on the shares offered with a total value of up to ₹2,00,000 in combination with the stock exchanges. The firm has also fixed the floor price of the offer for sale at ₹1,900 per equity share. A minimum of 10% of the offer will be reserved for retail investors, and a minimum of 25% of the OFS issue will be for mutual funds and insurance companies subject to bids received at or above the floor price. The OFS is scheduled to be completed before March 24, 2026.
According to CNBC TV18, Swan Defence shares hit the lower circuit, dropping 5% to ₹2,279.20 in the early market session on Wednesday, March 18, 2026, compared to ₹2,399.10 at the previous stock market close. With the upper circuit band at ₹2,519 apiece, the company's stock has a price tolerance band of 5%. Hence, the trading has been suspended till the stock recovers for the day. The company currently has a market capitalisation of around ₹12,007.32 crore as of the stock market session on Wednesday, March 18, 2026. Shares of the company surged to its 52-week high level at ₹2,489 this week on Monday, March 16, 2026, while the 52-week low mark was at ₹82.11 on March 17, 2025. The floor price for the OFS has been set at ₹1,900 per share, with the transaction expected to raise around ₹501.3 crore.
According to Upstox, Swan Defence shares have delivered exceptional returns to investors, with more than 2,675.79% returns on their investment in one year, and over 56% returns on a year-to-date (YTD) basis so far in 2026. In the last one month period, Swan Defence stock has gained 27.34%, and is trading 4.93% higher over the last five sessions on the Indian stock market, despite the lower circuit hit on Wednesday. Historical stock returns show strong performance with gains of +18.72% over 5 days, +34.04% over 1 month, +315.72% over 6 months, +2,821.81% over 1 year, and +6,246.83% over 5 years.
As reported by CNBC TV18, the promoter Hazel Infra Ltd plans to divest a 5.01% stake through the OFS to meet minimum public shareholding norms. Based on the December quarter shareholding pattern, promoters of Swan Defence and Heavy Industries had a 94.91% stake in the company, which is higher than the Minimum Public Shareholding norms of 75%. Following the transaction, Hazel Infra's stake in the company will reduce from the current 94.9%. On the business front, the company has secured notable orders in recent months, including an order from Rederiet Stenersen AS for the construction of six 18,000 deadweight tonnage chemical tankers, valued at $227 million (approximately ₹2,080 crore), in January 2026. In February 2026, the company also secured a defence export order from the government of the Sultanate of Oman to supply a training ship, which is scheduled for delivery within 18 months. A key monitorable for the stock post the offer will be its ability to attract credible long-term investors and rebuild market confidence.
