Lloyds Steel Private Limited Acquires 19.50% Stake in Loka Metals Private Limited for Rs. 1,17,00,000

Lloyds Steel Private Limited, a wholly owned subsidiary of Lloyds Metals and Energy Ltd, has acquired 19.50% equity stake in Loka Metals Private Limited for a consideration of Rs. 1,17,00,000. Loka Metals is a newly incorporated entity located in Telangana, Hyderabad, and is into the business of steel processing and trading of iron & steel. The acquisition is not a related party transaction and does not require any governmental or regulatory approvals. The shares are being subscribed at their par value of Rs. 10/- per share.