Lloyds Metals Completes Acquisition of Thriveni Earthmovers and Infra Private Limited for INR 70 crores

Lloyds Metals and Energy Limited (LMEL) has completed the acquisition of 79.82% equity stake in Thriveni Earthmovers and Infra Private Limited (TEIL) for INR 70 crores. The acquisition follows the final approval by the National Company Law Tribunal (NCLT) for the demerger of the Mine Developer and Operator (MDO) business from Thriveni Earthmovers Private Limited (TEMPL) into TEIL. TEIL is a leading player in the MDO segment in India, operating mining contracts across a range of minerals including iron ore, coal, barytes, and others. The acquisition is expected to deliver cost optimisation benefits, add significant revenue to LMEL’s consolidated financials, and enable LMEL to explore new mining opportunities both in India and internationally.