Description

NSE announces Offer for Sale of up to 26,38,747 equity shares of Swan Defence and Heavy Industries Limited on March 18-19, 2026, with a floor price of Rs. 1900 per share via the eOFS platform.

Summary

NSE has announced a proposed Offer for Sale (OFS) of equity shares of Swan Defence and Heavy Industries Limited. The OFS will be conducted on March 18 and March 19, 2026, via the NSE eOFS platform, with a floor price of Rs. 1,900 per share. The offer covers up to 26,38,747 equity shares of face value Rs. 10 each.

Key Points

  • OFS of up to 26,38,747 equity shares of Swan Defence and Heavy Industries Limited (Symbol: SWANDEF, ISIN: INE542F01020)
  • Floor price set at Rs. 1,900 per share with a tick size of Re. 0.10
  • Bidding sessions on March 18 and March 19, 2026, from 09:15 hrs to 15:30 hrs
  • Two series: IS (Non-retail category) and RS (Retail category — bid value ≤ Rs. 2 lacs)
  • All eligible Capital Market segment trading members can participate via eOFS platform
  • Governed by Exchange Scheme circular NSE/CMTR/72975 dated February 24, 2026 (Interoperability among Clearing Corporations)

Regulatory Changes

  • OFS is implemented under the Interoperability among Clearing Corporations framework per circular NSE/CMTR/72975 dated February 24, 2026.
  • UCC compliance determination cut-off is 22:00 hrs on the previous day; UCCs updated on the day of OFS bidding will not be permitted to participate.

Compliance Requirements

  • Members yet to receive Admin user IDs must register on the ENIT portal (https://enit.nseindia.com/MemberPortal/) under: ENIT-NEW-TRADE → Membership → Enablement → eOFS
  • Admin user ID requests are processed at 11:00 a.m., 2:00 p.m., and 3:00 p.m.; requests after 3:00 p.m. are processed next day by 8:45 a.m.
  • Only one Admin user creation request may be raised; it cannot be modified once submitted
  • Members must ensure UCC of self (PRO) and clients are updated in the UCI system at least one day prior to the OFS bidding session
  • Members must ensure sufficient collaterals before initiating carry forward of orders on T+1 day; rejected orders due to margin insufficiency cannot be re-placed
  • Refer to Annexure 3 of circular NSE/CMTR/43529 dated February 13, 2020 for features and limit settings

Important Dates

  • March 17, 2026: Circular issued
  • March 17, 2026 (by 22:00 hrs): Deadline to update UCC compliance for participation on March 18
  • March 18, 2026: OFS bidding session Day 1 — 09:15 to 15:30 hrs (IS and RS series)
  • March 18, 2026: Carry forward of unallocated Non-retail bids to March 19
  • March 19, 2026: OFS bidding session Day 2 — 09:15 to 15:30 hrs

Impact Assessment

This OFS provides an opportunity for both retail and non-retail investors to acquire shares in Swan Defence and Heavy Industries Limited at or above Rs. 1,900 per share. Trading members must act promptly to ensure eOFS platform access, UCC compliance, and adequate collateral ahead of the March 18 opening session. Failure to meet pre-conditions (UCC updates, Admin user registration, margin sufficiency) will result in exclusion from the bidding process. The interoperability framework ensures participation across clearing corporations.

Impact Justification

Time-sensitive OFS announcement affecting trading members and investors interested in Swan Defence shares; requires immediate action on UCC compliance and collateral sufficiency before March 18, 2026.