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BlackRock Acquires 1.45% Stake in Swan Energy Worth INR 304 Cr US-based BlackRock, through its three affiliates, acquired 45.56 lakh shares, amounting to a 1.45 percent stake in Mumbai-based Swan Energy, as per the block deal data available with the National Stock Exchange (NSE).

By Entrepreneur Staff

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US-based global asset manager BlackRock acquired shares of Swan Energy worth INR 304 crore through open market transactions.

BlackRock's three affiliates bought 45.56 lakh shares, equivalent to a 1.45 percent stake in Mumbai-based Swan Energy, at an average price of INR 668.27 per share, as per the block deal data available with the National Stock Exchange (NSE).

Concurrently, entities like Mauritius-based private equity fund 2i Capital PCC, EOS Multi-Strategy Fund AIFLNP VCIC, Dovetail India Fund, Epitome Trading and Investments, and Paulomi Ketan Doshi offloaded shares of Swan Energy.

The shares were disposed of in the price range of INR 666.20–692.60 per piece.

As a result, Swan Energy's stock surged by 5 percent, closing at INR 692.60 on the NSE.

Swan Energy operates across the textiles, real estate, energy, and petrochemicals sectors.

In April, Jio Financial Services (JFS) formed a joint venture with BlackRock to offer wealth management and brokerage services in India, enhancing their partnership.

"This joint venture further strengthens the Company's relationship with Blackrock, Inc., with whom the Company had announced a 50:50 joint venture on July 26, 2023, to transform India's asset management industry through a digital-first offering and democratise access to investment solutions for investors in India," JFS said in a regulatory filing.

Entrepreneur Staff

Entrepreneur Staff

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