EGM on July 15 to approve SISCOL acquisition and share issue

Board & Shareholder Meetings View source PDF

LLOYDSENGG · price

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AI summary

Lloyds Engineering will hold an EGM on July 15, 2026 to seek shareholder approval for acquiring 52.16% stake in Steel Infra Solutions (SISCOL) for about Rs 635.40 crore, partly via share swap (7.06 crore shares at Rs 71.25) and partly cash. Record date is July 8. Also proposes 7 lakh preferential shares to Prime Securities for Rs 4.99 crore cash, making SISCOL its subsidiary.

Likely market impact

If approved, Lloyds gains 52.16% in SISCOL, making it a subsidiary. Share dilution from new shares. Shareholders must hold shares by July 8 to vote.