Swan Defence and Heavy Industries (SDHI) has successfully relaunched, setting the stage for future expansion as the company works towards establishing itself in the global maritime sector.
The company has recommenced the trading of its shares on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in the Indian market.
The company's stock opened at Rs35.99 ($0.42) on the BSE and has observed a 5% increase during the trading session, achieving an intra-day peak of Rs37.78.
Previously known as Reliance Naval and Engineering, the company has undergone a rebranding to SDHI earlier this month.
The company was initially incorporated under the name Pipavav Shipyard. In January 2024, Swan Energy assumed management control of SDHI.
Swan Defence and Heavy Industries director Vivek Merchant said: “The resumption of trading in Swan Defence and Heavy Industries shares marks the beginning of a new journey for the shipyard.
“With our strategic location, state-of-the-art infrastructure and steady growth trajectory, we are uniquely positioned to transform our shipyard into a premier global maritime hub. Our vision is to establish the shipyard as a globally renowned centre of innovation and craftsmanship, playing a pivotal role in elevating India’s standing amongst the world’s top shipbuilding nations.”
Swan Energy acquired the former Anil Ambani group company Reliance Naval & Engineering in 2023.
The company aims to establish itself as the top player in green ship-breaking, ship repair, and a central hub for global manufacturing within the Asia Pacific region, according to senior executives.
Recently, SDHI has completed the refit of the Indian Coast Guard's fast patrol vessel, Raj Ratan, ahead of its deadline.
With a shipyard equipped with a 662 metre (m) x 65m dry dock and an annual fabrication capacity of 144,000 tonnes, SDHI is poised to reinitiate its shipbuilding activities.
Vivek Merchant further added: “The resumption of trading marks a new journey to transform their shipyard into a premier global maritime hub, advancing India’s position in global shipbuilding. We welcome all stakeholders to the Swan Family!”
