Swan Defence and Heavy Industries Share price

The Company was incorporated as Pipavav Ship Dismantling and Engineering Limited on October 17 1997 under the Companies Act. Subsequently in April 2005 the main business of the Company was changed from ship dismantling to shipbuilding and ship repair. Pursuant to a special resolution adopted by the shareholders of the Company at an extraordinary general meeting held on April 19 2005 the name ofthe Company was changed to Pipavav Shipyard Limited to reflect the change in the primary business focus of the Company. The fresh certificate of incorporation to reflect the new name was issued by the RoC on April 29 2005. The Company received its certificate of commencement of business under the Companies Act on December 2 1997 from the RoC.With effect from August 18 2005 the registered office of the Company was changed from B-1 Maharaja Palace University Road Navrangpura Ahmedabad - 380 009 Gujarat India to 904 Shukan Towers Near Judges Bungalow Police Chowky Bodakdev Ahmedabad - 380 054 Gujarat India. The registered office of the Company was subsequently changed in October 2006 to Pipavav Port Post Ucchaya Via Rajula Rajula - 365 560 Gujarat India.Major Events:Date EventsOctober 1998 The Company acquired the ship dismantling business of GPPL a company originally promoted by SKIL. In the same month the Company was granted a sub-lease by GPPL for the establishment and operation of a ship dismantling repair and building facility in Pipavav Port.October andNovember 2000 Subscription by Unit Trust of India to 12.5% optionally convertible cumulative preference shares.April 2005 The main business of the Company was changed from ship dismantling to shipbuilding and ship repair. The Company also changed its name to reflect the change in its primary business focus.January 2006 The Company entered into a Technical Assistance Agreement with SembCorp pursuant to which SembCorp agreed to assist the Company in the planning designing and construction of the Pipavav Shipyard until the commissioning stage and to provide technical and management assistance in relation to the Company?s business.April 2006 The Company received approval from the Development Commissioner Kandla SEZ for setting up a new undertaking under 100% EOU scheme for manufacture of ships ship repairs at the site of the Company?s registered office.September 2006 The Company entered into a Basic Agreement for Technical Cooperation with KOMAC pursuant to which KOMAC agreed to supply designs and provide technical services for the Company?s shipbuilding project.September 2006 Subscription by 2i Capital PCC a Mauritius based venture capital investor to optionally convertible bonds of the Company.September 2006 Subscription by EXIM Bank to Equity Shares of the Company.October 2006 The Company entered into a share purchase agreement with Metdist Industries Holdings Limited pursuant to which E Complex became a wholly owned subsidiary of the Company.November 2006 The Company secured its first order for construction of four 74500 DWT Panamax bulk carriers from Golden Ocean Group Limited an internationally reputed ship owning company. In addition the Company also entered into an agreement with Golden Ocean Group Limited for the construction of two optional ships.*December 2006 The Company secured its second order for construction of four 74500 DWT Panamax bulk carriers from SETAF S.A.S. France a member of the Bourbon Group in France.*December 2006 The Company secured orders for twelve 74500 DWT Panamax bulk carriers from the AVGI Maritime Services S.A. a company controlled by the Kyrini Group of Greece. The Company also granted options to the AVGI group to acquire four additional vessels.*February 2007 2i Capital PCC further subscribed to optionally convertible bonds of the Company.March 2007 Private equity investment by Trinity Capital (Nine) Limited a Mauritius based investor.March 2007 Private equity investment by New York Life Investment Management Fund (FVCI) II LLC a Mauritius based venture capital investor.May 2007 Allotment of Equity Shares on account of conversion of 12.5% optionally convertible cumulative preference shares held by Unit Trust of India.August 2007 Golden Ocean Group Limited exercised its option and confirmed orders for constructions of two 74500 DWT Panamax Bulk Carriers.September 2007 Punj Lloyd Limited acquired Equity Shares of the Company and became a Promoter of the Company with an understanding that it will carry out its offshore business in India through the Company and thereby expand the Company?s business to include offshore fabrication and construction.September 2007 Private equity investment by Citadel Equity Fund Ltd. CEFL subsequently transferred its shareholding in the Company to ABN AMRO.September 2007 Allotment of Equity Shares to 2i Capital PCC on account of conversion of the optionally convertible bonds of the Company.November 2007 Subscription by IDBI IL&FS Trust Company Limited (as Trustee of SCB Asian Infrastructure Fund) SembCorp and The India Fund Inc. (a Blackstone Group fund) to Equity Shares of the Company.December 2007 Subscription by The Asia Opportunities Offshore Markets Fund Limited (a Blackstone Group fund) and Merrill Lynch International to Equity Shares of the Company. January 2008 Subscription by Galleon Special Opportunities Master Fund SPC Limited - Galleon Asian Crossover Segregated Portfolio Manz Retail Private Limited (Future Group) and Deutsche Bank AG to Equity Shares of the Company.January 2008 The Company received approval from the Development Commissioner Kandla SEZ for setting up a unit in the SEZ being developed by E Complex in villages Rampara and Lunsapur for undertaking authorized operations of manufacturing ships vessels hulls and off-shore activities.February 2008 The Company commenced steel cutting for the construction of the first four ships with effect from February 11 2008.April 2009 The Company commenced commercial production with effect from April 1 2009.June 2009 The Company received a notification of award of contract of 12 OSVs from ONGC.