Swan Energy Limited (BSE:503310) agreed to acquire remaining 49% stake in Triumph Offshore Private Limited from Indian Farmers Fertiliser Cooperative Limited for INR 4.4 billion on June 24, 2024. A cash consideration of INR 4.4 billion will be paid by Swan Energy Limited. As part of consideration, INR 4.4 billion is paid towards common equity of Triumph Offshore Private Limited. Upon completion, Swan Energy Limited will own 100% stake in Triumph Offshore Private Limited.

For the period ending March 31, 2024, Triumph Offshore Private Limited reported total revenue of INR 6.47 billion.

The transaction is approved by acquirer board. The expected completion of the transaction is June 24, 2024 to August 10, 2024.