Acquisitions18 Jun 2026, 02:55 pm
Lloyds Engineering Acquires 88.12% of Steel Infra for ₹1,073.40 Cr
AI Summary
Lloyds Engineering Works Ltd announced a significant acquisition following a Board Meeting. The company, along with its holding company Lloyds Enterprises Limited and Streamland Estate LLP, will acquire up to 88.12% of Steel Infra Solutions Company Limited (SISCOL) for approximately ₹1,073.40 Cr. The acquisition involves a combination of cash and share swap for Lloyds Engineering's portion. Additionally, the company plans a preferential allotment of up to 7,06,74,554 equity shares to selling shareholders of SISCOL and up to 7,00,000 equity shares for cash to raise capital. An Extra Ordinary General Meeting is scheduled for July 15, 2026, to seek member approval for these transactions.
Key Highlights
- Acquisition of 88.12% stake in Steel Infra Solutions Company Limited for ₹1,073.40 Cr.
- Acquisition involves cash and share swap components.
- Planned preferential allotment of shares to raise capital and for acquisition consideration.
- EGM scheduled for July 15, 2026, for shareholder approval.
- Board also approved appointment of scrutinizer for EGM voting.
Price Impact
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