Swan Defence and Heavy Industries Limited — JV/Acquisition, 26-08-2026: Amalgamation/Merger

Swan Defence & Heavy Industries (SDHIL) is merging with Triumph Offshore (TOPL) following NCLT approval. This strategic move aims to boost synergy, cut costs, and expand SDHIL's market presence by integrating the shipbuilding value chain. The deal sees TOPL shareholders receive 1,325 preference shares of SDHIL (FV Rs. 10 each) for every 1,000 equity shares held in TOPL (FV Rs. 10 each). Additionally, SDHIL will reorganize its capital, offsetting its substantial Rs. 2,106.49 Cr accumulated losses against reserves. This cleanup is expected to strengthen its balance sheet and pave the way for future dividend payouts. The merger becomes effective upon filing with the Registrar of Companies.