INR 501 CR Swan Defence Shares Sale Attracts Top Investors Like Nikhil Kamath, Quant MF

Nikhil Kamath, Quant MF Lead, Swan Defence share buy, and now own nearly half of the OFS. The deal is driving in 1.2 times more subscribers.

Adepu Bindu

24 Mar 2026 — 2 min read

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INR 501 CR Swan Defence Shares Sale Attracts Top Investors Like Nikhil Kamath, Quant MF

Nikhil Kamath (co-founder of Zerodha) and Quant Mutual Fund bought a big chunk of shares in a company called Swan Defence and Heavy Industries Limited. SEBI mandated that companies maintain a minimum level of public shareholding. Although the company made its shares public on January 20 2025, the percentage did not satisfy the SEBI rules. The company's main promoter, Hazel Infra, held 94.91% of its stake (very high). Therefore, 5% of the company was offered for sale (OFS). And that attracted big investors like Nikhil Kamath and Quant Mutual Fund.

In fact, they now own nearly half of the shares sold in OFS. And since then, the subscription level has increased by 1.2 times, accounting for about 50% of total shares sold. So, what is hype all about? Why are investors interested in defence and shipbuilding? For all that, learn more.

Swan Defence and Heavy Industries Limited Ofs So Far...

The total deal size is worth INR 501 crore, which means about 5% of the company. The seller is the company's main promoter, Hazel Infra. So far, about 26 lakh shares (that's nearly 50%) have been sold at a floor price of INR 1900 per share. The subscription is now 1.2 times higher and is likely to go up until March 19 (closing date). Nikhil Kamath's Quant Mutual Fund investments are likely to give a boost to the OFS. Thus, others are showing confidence too.

Why Are Investors Interested in Swan Defence and Heavy Industries Limited?

Factor	What It Means (Simple Explanation)
Government Push	India is highly encouraging “Make in India” local manufacturing (indigenisation) in defence and shipbuilding.
Maritime Policies	Supportive policies are helping domestic shipbuilding companies grow faster.
Global Ship Demand	Worldwide demand for ships is increasing, creating more business opportunities.
Defence Sector Growth	Based on recent times, countries are spending more on defence → more orders for companies.
Company Turnaround	Swan Defence and Heavy Industries Limited has improved operations under new management. - Revived Pipavav shipyard (India’s largest) - Got big international orders, like a $277 million deal for 6 chemical tankers from a European company - Defence export order from Oman’s Royal Navy. - Completed 10 repair projects, including Indian Coast Guard ships, Commercial vessels and Offshore rigs.
Strong Order Book	Big international deals (like tankers & defence exports) provide future revenue visibility.
Execution Track Record	Projects (such as ship repairs) are delivered on time or early.
Investor Confidence	Big names like Nikhil Kamath and Quant Mutual Fund investing boost trust.

Final Thoughts…

Recent times have seen why countries invest heavily in defence and shipbuilding. That’s why investors are pouring confidence into the sector. With Nikhil Kamath and Quant Mutual Fund on board, the company can expect to drive more traction. Plus, the “Make in India” initiative is an added advantage for the sector and investors in the long run (as industry experts anticipate). For more updates on the same, keep in touch.

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