Swan Defence stock hits lower circuit after board approves 5% promoter stake sale via OFS route; check floor price

"This is to bring to your notice that the pre-dealing application as submitted by Hazel Infra Limited, promoter of the company for disposal of upto 26,38,747 nos. equity shares of Swan Defence and Heavy Industries Limited has been approved," the company informed the stock exchange through its filing.

Swan Defence share price dropped to the lower circuit level of ₹2,279.20 in the early market session on Wednesday, compared to ₹2,399.10 at the previous stock market close, according to the NSE data. With the upper circuit band at ₹2,519 apiece, the company’s stock has a price tolerance band of 5%. Hence, the trading has been suspended till the stock recovers for the day.

Promoter to sell 5% stake

Swan Defence and Heavy Industries’ promoter company, Hazel Infra Limited, has decided to sell up to 26,38,747 or more than 26 lakh equity shares with a face value of ₹10 apiece, representing 5.01% of the total paid-up capital of the company, according to the NSE filings.

The promoter will be selling the shares through an offer for sale (OFS) issue on the open market, with Wednesday, March 18, as the day for non-retail bidders. The OFS issue will be eligible for bidding by the retail investors on Thursday, March 19, 2026.

The company also disclosed that the retail investors will be able to bid on the shares offered with a total value of up to ₹2,00,000, in combination with the stock exchanges. The firm also fixed the floor price of the offer for sale at ₹1,900 per equity share.

The data also suggested that a minimum of 10% of the offer will be reserved for retail investors, and a minimum of 25% of the OFS issue will be for the mutual funds and insurance companies subject to the bids received at or above the floor price.

Swan Defence stock price trend

Swan Defence shares have given stock market investors more than 2,675.79% returns on their investment in one year, and over 56% returns on a year-to-date (YTD) basis, so far in 2026, according to the NSE data.

In the last one month period, Swan Defence stock has gained 27.34%, and is trading 4.93% higher over the last five sessions on the Indian stock market, despite the lower circuit hit on Wednesday.

Shares of the company surged to its 52-week high level at ₹2,489 this week on Monday, March 16, 2026, while the 52-week low mark was at ₹82.11 on March 17, 2025, according to the exchange data. Swan Defence’s market capitalisation (M-Cap) stood at ₹12,007.32 crore as of the stock market session on Wednesday, March 18, 2026.