Orders12 Oct 2026 · Mon
SWANDEFSwan Defence and Heavy Industries
Swan Defence is the lowest bidder for four tankers, a ₹1,897 crore contract
Swan Defence and Heavy Industries is the lowest bidder for four medium-range product tankers worth ₹1,897 crore. The contract has not been finalised.
Price, Monday's close₹2,940.00▲ 4.37%
Last 5 days
52-week low ₹636.2052-week high ₹2,950.00
- Sector
- Shipbuilding
What happened
- Swan Defence and Heavy Industries emerged as the lowest bidder for four dual-fuel medium-range product tankers, in a tender led by a joint venture of the Shipping Corporation of India, according to Kotak Neo. Sahi called Swan the preferred bidder. Both put the value at ₹1,897 crore.
- Kotak Neo said the tender is for two firm vessels and two optional ones, that price bids were opened on 9 October, and that Cochin Shipyard's quote was higher. The contract has not been finalised.
- Kotak Neo said each vessel would carry 17,000 to 18,000 tonnes of cargo and that, if the contract goes ahead, they would be India's first locally built oil tankers in about 25 years.
- The shares closed at ₹2,940, up 4.37%. Kotak Neo reported a fresh 52-week high of ₹2,874.55 during the session; exchange data show the day's final high was ₹2,950.
Why it matters
Good to know: Being the lowest bidder is not the same as winning: the buyer still has to complete the award and sign the contract.
Key facts
- Value
- ₹1,897 crore
- Vessels
- Four (two firm, two optional)
- Price bids opened
- 9 October
- Status
- Lowest bidder; contract not finalised
Read the source
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