Lloyds Metals and Energy Limited has successfully entered into a share subscription agreement for the acquisition of a significant stake in Thriveni Earthmovers and Infra Private Limited (TEIL). The agreement, finalized today, will see the company acquire 70,00,00,000 equity shares of TEIL, representing 79.82% of the total issued, subscribed, and paid-up equity capital of TEIL, for a total consideration of ₹70 crore.
This move follows the earlier announcement in December 2024, where Lloyds Metals’ Board of Directors approved the proposed acquisition, subject to shareholder approval. The shareholders of the company gave their approval in an extraordinary general meeting held on 17th January 2025, with the requisite majority. The proceedings of the meeting and the voting results were disclosed by the company shortly thereafter.
The share subscription agreement, officially executed on 17th February 2025, is a significant step for Lloyds Metals as it strengthens its position in the earthmoving and infrastructure sector. The company’s acquisition is in line with its strategy to expand its portfolio and enhance its market presence.
As per the requirements under the Securities and Exchange Board of India (SEBI) regulations, Lloyds Metals has already provided the necessary disclosures in relation to the acquisition, ensuring full transparency and compliance with the regulatory guidelines. The company has also confirmed that the acquisition is subject to customary closing conditions.
Lloyds Metals and Energy Limited is a leading company involved in the production of metals and energy solutions. The company is known for its strong presence in the industrial sector, with a commitment to growth through strategic acquisitions and investments.
