Lloyds Engineering Works Ltd Acquires Remaining Stake in Techno Industries Private Limited for Rs. 22.70 Crore

In a recent board meeting, Lloyds Engineering Works Ltd approved an amendment to the Share Purchase Agreement for the acquisition of the remaining 12% stake in Techno Industries Private Limited. This acquisition will make Techno Industries a wholly-owned subsidiary of Lloyds Engineering Works Ltd. The company will hold an aggregate stake of 100% in Techno Industries Private Limited, having acquired 14,99,999 equity shares at a face value of Rs. 10/- each for a consideration of Rs. 22.70 Crore. Additionally, the company approved a corporate guarantee of Rs. 59 Crore in favor of HDFC Bank for Techno Industries Private Limited.