EGM Details

  • Meeting Date: Wednesday, 15th July, 2026 at 11:00 a.m. IST
  • Mode: Video Conference/Other Audio-Visual Means exclusively
  • Cut-off Date for Voting: Wednesday, 8th July, 2026
  • E-voting Period: 10th July 2026 (9:00 a.m.) to 14th July 2026 (5:00 p.m.) via NSDL

Business Items

Item No. 1: Acquisition of Controlling Stake in Steel Infra Solutions Company Limited

Special Resolution for preferential allotment of equity shares for consideration other than cash (share swap):

  • Total Shares to Issue: 7,06,74,554 Equity Shares of face value ₹1 each
  • Issue Price: ₹71.25 per share (₹70.25 premium)
  • Total Consideration: ₹503,55,61,972.50
  • SISCOL Stake Acquired: 41.34% (1,67,85,210 shares)
  • SISCOL Valuation: ₹300 per share as per independent valuation

Allottees Details (27 entities):

  • Ravikant Uppal: 1,57,79,393 shares (9.23% SISCOL stake)
  • Surin Holdings LLP: 1,23,59,907 shares (7.23% SISCOL stake)
  • MK Ventures: 72,95,368 shares (4.27% SISCOL stake)
  • Ranjan Sharma: 72,55,578 shares (4.24% SISCOL stake)
  • Poonam Sharma: 55,49,886 shares (3.25% SISCOL stake)
  • Meridian Investment: 56,47,381 shares (3.30% SISCOL stake)
  • Prime Securities Limited: 3,21,141 shares (0.19% SISCOL stake)
  • 20 other entities with allocations ranging from 52,631 to 25,29,507 shares

Item No. 2: Preferential Allotment for Cash Consideration

Special Resolution for cash-based preferential allotment:

  • Total Shares to Issue: 7,00,000 Equity Shares of face value ₹1 each
  • Issue Price: ₹71.25 per share (₹70.25 premium)
  • Total Amount to Raise: ₹4,98,75,000
  • Allottee: Prime Securities Limited (Non-Promoter category)

Transaction Structure

SPSSHA Agreement dated 18th June 2026 between:

  • Lloyds Engineering Works Limited
  • Lloyds Enterprises Limited (Holding Company)
  • Streamland Estate LLP
  • Steel Infra Solutions Company Limited (SISCOL)
  • SISCOL Shareholders

Total Acquisition: 3,57,80,117 SISCOL shares (88.12% stake) for ₹1,073.40 Crore:

1. Company Acquisition: 2,11,80,117 shares (52.16%) for ₹635.40 Crore

  • Cash component: ₹131.85 Crore for 43,94,907 shares (10.82%)
  • Share swap: ₹503.56 Crore for 1,67,85,210 shares (41.34%)

2. Lloyds Enterprises Limited: 73,00,000 shares (17.98%) for ₹219 Crore cash

3. Streamland Estate LLP: 73,00,000 shares (17.98%) for ₹219 Crore cash

Financial and Operational Impact

  • Post-acquisition Holding: Company will hold 52.16% in SISCOL, making it a subsidiary
  • SISCOL Business: Heavy steel fabrication and infrastructure solutions
  • Rationale: Expansion of capabilities, operating synergies, broader customer offering
  • Future Plan: File DRHP for SISCOL listing within 30 months from Stage 1 completion

Shareholding Impact

Preferential Issue Impact:

  • Total shares issued: 7,13,74,554 (7.07 crore swap + 7 lakh cash)
  • Promoter holding dilution: From 41.91% to 39.65%
  • Non-promoter holding increase: From 57.97% to 60.23%

Corporate Governance

  • Scrutinizer: Mr. Harshvardhan Tarkas, Practicing Company Secretary
  • Company Secretary Certificate: Mr. K.C. Nevatia of K.C. Nevatia & Associates
  • No Promoter/Director Participation: None of the existing promoters/directors participating in the issue
  • No Change in Control: Transaction does not result in change of management control

Additional Information

  • SISCOL Shareholding Pattern (as on notice date):
  • Promoter & Promoter Group: 57.79% (2,34,63,718 shares)
  • Non-Promoter: 42.21% (1,71,40,224 shares)
  • Company Website: www.lloydsengg.in
  • Contact Person: Rahima Shaikh, Company Secretary & Compliance Officer
  • Corporate Office: A-2, Madhu Estate, 2nd Floor, Pandurang Budhkar Marg, Lower Parel (W), Mumbai 400 013

#LloydsEngineering #SEBIDisclosure #PreferentialAllotment #M&A #RegulatoryCompliance #Neutral