Lloyds Engineering Allots 7 Cr Shares for SISCOL Acquisition & ₹4.98 Cr Cash Issue

Lloyds Engineering Works Ltd announced the allotment of 7,00,42,458 equity shares on a preferential basis to shareholders of Steel Infra Solutions Company Limited (SISCOL) in lieu of acquiring their SISCOL shares. This transaction, valued at approximately ₹499.05 crore, was conducted for consideration other than cash. Additionally, the company allotted 7,00,000 equity shares for cash consideration to a non-promoter investor, aggregating ₹4.98 crore. Both allotments were approved by the Securities Issue Committee and are in compliance with relevant Companies Act provisions and received in-principle approval from BSE and NSE.