Swan Energy launches Rs 4,000-crore QIP

Mumbai: Swan Energy has launched a 4,000 crore qualified institutional placement (QIP) on Tuesday and set a floor price of 703.29 per share. In a stock exchange filing, Swan said a meeting is scheduled for February 26 to determine the issue price for the shares. Swan Energy stock gained 3.14% on Tuesday to close at 751. Swan Energy aims to use the funds from the QIP for debt reduction and modernising facilities.