LLOYDS ENGINEERING WORKS LIMITED has informed the Exchange about General Updates
LLOYDSENGG · price
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Lloyds Engineering Works Limited informed the exchanges that its promoter, Lloyds Enterprises Limited, has sold 2.68 crore equity shares (2.30% of equity share capital) through a block deal. The shares were sold at Rs. 48.50 per share, aggregating to approximately Rs. 129.98 crores. The buyer is Thriveni Earthmovers Private Limited, the investment arm of Mr. Balasubramanian Prabhakaran. The transaction was carried out under SEBI Listing Regulations, and the company has disclosed this for regulatory compliance.
The promoter has trimmed its stake by 2.30%, bringing a new strategic investor (Thriveni Earthmovers) on board. While promoter shareholding has reduced marginally, the entry of a known infrastructure/mining group investor could be viewed positively. Block deals are pre-negotiated, so immediate stock price impact is likely limited.