Albula Investment Fund sells Swan Energy's shares worth Rs 157 crore

Albula Investment Fund on Friday sold shares of Swan Energy for Rs 157 crore through an open market transaction.

Bandhan Mutual Fund (MF), Samco MF, BNP Paribas Arbitrage, Societe Generale, and Resonance Opportunities Fund, among others were the buyers of shares.

According to the block deal data available with the National Stock Exchange (NSE), Albula Investment Fund offloaded 30.24 lakh shares, amounting to a 1.14 per cent stake in Swan Energy.

The shares were disposed of at an average price of Rs 519.90 apiece, taking the deal value to Rs 157.22 crore.

Shares of Swan Energy rallied 7.48 per cent to close at Rs 563.60 per piece on the NSE.

Swan Energy on Thursday said it has formally taken over management control of Reliance Naval & Engineering. The company had emerged as the winning bidder under an insolvency resolution process.

The acquisition of Reliance Naval marks the company's entry into the shipbuilding, ship repairing, and heavy fabrication industry.

Swan Group has presence in textiles, real estate, oil and gas and petrochemicals and shipbuilding.