BlackRock Acquires Stake in Swan Energy for Rs 304 Crore

Global asset manager BlackRock has bought a 1.45% stake in Mumbai-based Swan Energy for Rs 304 crore through its three affiliates. Shares were acquired at an average price of Rs 668.27 each. Meanwhile, several entities including 2i Capital PCC disposed of their shares, leading to a 5% increase in Swan Energy's share price.

Global asset manager BlackRock on Monday acquired a 1.45% stake in Mumbai-based Swan Energy for Rs 304 crore through open market transactions.

According to National Stock Exchange (NSE) block deal data, BlackRock's three affiliates purchased 45.56 lakh shares at an average price of Rs 668.27 per share.

Meanwhile, Mauritius-based private equity fund 2i Capital PCC and other entities sold their shares in the price range of Rs 666.20 to Rs 692.60. In response, Swan Energy's shares surged 5% to close at Rs 692.60 on the NSE.

(With inputs from agencies.)