LLOYDS ENGINEERING WORKS LIMITED has informed the Exchange regarding 'General Announcement'.
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Lloyds Engineering Works Limited (LEWL) announced that its Board of Directors has approved the draft Scheme of Merger by Absorption of three group entities — Lloyds Infrastructure & Construction Limited (LICL), Metalfab Hightech Private Limited, and Techno Industries Private Limited — into itself, effective from April 1, 2025. Share exchange ratios are set at 1,798 LEWL shares for every 1,500 LICL shares and 94 LEWL shares for every 5 Metalfab shares. LEWL will issue approximately 38.1 crore new shares, expanding total equity from 147.42 crore to 185.52 crore shares. Post-merger, promoter Mr. B Prabhakaran and family will hold a 21.03% stake. On a pro-forma H1FY26 basis, the combined entity reports total income of ₹1,484.30 crore, EBITDA of ₹242.10 crore, PAT of ₹160.98 crore, and an order book of ~₹6,150 crore. The merger is subject to CCI, NCLT, and stock exchange approvals.
Existing shareholders face dilution of roughly 26% due to the issuance of new shares, but they gain exposure to a much larger, vertically integrated 'design-to-execution' engineering and infrastructure platform with a ₹6,150 crore order book providing strong revenue visibility. The stock could see positive momentum on synergy and scale benefits, though it remains pending regulatory clearances.