Lloyds Engineering Allots 7 Cr Shares via Preferential Issue

Lloyds Engineering Works Limited announced the allotment of 7,00,42,458 equity shares at an issue price of ₹71.25 per share, aggregating to ₹499.05 crore, to shareholders of Steel Infra Solutions Company Limited (SISCOL) in lieu of acquisition of their SISCOL shares. Additionally, 7,00,000 equity shares were allotted at the same price, aggregating to ₹4.99 crore, to a Non-Promoter for cash consideration. These allotments were approved by the Securities Issue Committee of the Board of Directors and are pursuant to the Companies Act, 2013, with prior in-principle approvals from BSE and NSE.