Investment19 May 2025, 06:44 pm
Lloyds Metals and Energy Ltd Signs Share Subscription and Shareholders Agreement with Hinduja Renewables Energy for 100 MW Solar Power Sourcing
AI Summary
Lloyds Metals and Energy Ltd has signed a Share Subscription and Shareholders Agreement with Hinduja Renewables Energy Private Limited and HR Godavari. The Company will subscribe to at least 26% of the total paid-up equity share capital of HR Godavari, which will enhance the Company's source of renewable power energy for its operations. The agreement also gives the Company affirmative voting rights on certain key matters, including changes in equity share capital structure, initiation of liquidation or winding up, mergers, de-mergers, and changes in legal status of HR Godavari.
Key Highlights
- Lloyds Metals and Energy Ltd has signed a Share Subscription and Shareholders Agreement with Hinduja Renewables Energy Private Limited and HR Godavari.
- The Company will subscribe to at least 26% of the total paid-up equity share capital of HR Godavari.
- The agreement will enhance the Company's source of renewable power energy for its operations.
- The agreement gives the Company affirmative voting rights on certain key matters.
- The agreement includes provisions to protect the Company's status as a captive consumer.