Swan Energy to Establish New Subsidiary: Swan ImagAInation Private Limited

Swan Energy Limited has announced the approval of a proposal to incorporate a wholly owned subsidiary, Swan ImagAInation Private Limited. The decision was made during the Board of Directors' meeting held on June 14th, which commenced at 6:30 p.m. and concluded at 7:00 p.m.

Swan ImagAInation Private Limited will focus on information technology and artificial intelligence activities. The new subsidiary aims to engage in advanced survey and imaging services utilizing cutting-edge technologies, including remote sensing, GIS, LIDAR, laser scanning, and drone photogrammetry.

As a wholly owned subsidiary, Swan ImagAInation Private Limited will be considered a related party. All transactions with this subsidiary will be conducted on an arm's length basis to ensure transparency and fairness. The initial share capital will be subscribed at face value, giving Swan Energy Limited 100% ownership of the new entity.

This strategic move aligns with Swan Energy's commitment to diversifying its portfolio and leveraging innovative technologies in the IT and AI sectors. The incorporation of Swan ImagAInation Private Limited marks a significant step forward in the company's growth and expansion plans.
Read the official announcement here.  

About Swan Energy Limited

Swan Energy Limited, originally established as Swan Mills Ltd. in 1992, began as a textile mill in Mumbai. Over the years, it diversified into textiles, real estate, and energy. In 2008, the company was renamed to reflect its entry into the energy sector, notably setting up an LNG terminal in Gujarat through its subsidiary, Swan LNG Private Limited.

The company has also developed significant real estate projects, including I.T. Parks in Mumbai and commercial towers in Bengaluru and Hyderabad. Through its subsidiary, Pegasus Ventures Pvt. Ltd., Swan Energy acquired properties in South India. Recent expansions include acquiring Reliance Naval and a majority stake in Veritas, enhancing its presence in petrochemical manufacturing and trading.