Swan energy is raising 4000cr via QIP

Swan Energy's stock saw a 3.78 percent increase in its closing value on February 20 following reports that the company is planning to raise ₹4,000 crore through a Qualified Institutional Placement (QIP). The company intends to utilize the proceeds from the QIP for debt reduction and modernizing its facilities. QIP serves as a mechanism for companies to garner capital from institutional investors through the open market.

Swan Energy is currently engaged in discussions with various entities, including mutual funds and insurance companies, and has garnered significant interest from select foreign institutional investors regarding participation in the QIP, according to sources cited by ET. It is anticipated that the leading player in this QIP endeavor will be the international investment bank Goldman Sachs.