Lloyds Metals Acquires 79.82% Stake in Thriveni Earthmovers and Infra

On Thursday, December 19, 2024, Lloyds Metals and Energy’s share price dipped 2.17% to trade at 1,152.85 at 1:18 PM (IST) on BSE. The shares remain in focus after the company announced its acquisition of a significant 79.82% equity stake in Thriveni Earthmovers and Infra.

The acquisition involves subscribing to 70 crore equity shares, which represents 79.82% of the total equity share capital of Thriveni Earthmovers and Infra, at a total cost of ₹70 crore.

Financial Guarantee to Support Thriveni Earthmovers

As part of the deal, Lloyds Metals has also committed to issuing a financial guarantee worth ₹2,500 crore. The guarantee, issued in favour of Thriveni Earthmovers’ promoters, will cover the principal amount and applicable returns to external lenders, ensuring financial stability for the acquired entity.

In an official statement, Lloyds Metals detailed the resolution approved during its Board of Directors meeting held on December 18, 2024. “We would hereby like to inform you that at the Meeting of the Board of Directors of Lloyds Metals and Energy Limited (‘the Company’) held today, the Board of Directors has, inter alia, approved the acquisition of 79.82% of the total equity share capital of Thriveni Earthmovers and Infra Private Limited,” the company stated in its regulatory filing.

Share Holding Patterns 

As of December 19, Lloyds Metals and Energy’s market capitalisation stood at ₹60,332.46 crore. According to September quarter data, foreign institutional investors (FIIs) hold a 1.95% stake in the company, while promoters retain a significant 63.48% ownership.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.