LLOYDS ENGINEERING WORKS LIMITED has informed the Exchange about Share Purchase Agreement entered for Acquistion of shares
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Lloyds Engineering Works Limited (LEWL) has approved a Share Purchase Agreement to acquire 21,85,000 equity shares (76% stake) in Metalfab Hightech Private Limited at ₹130 per share, for a total cash consideration of ₹28.40 crores. Metalfab is a heavy fabrication and equipment manufacturing company based in Nagpur with a 24,000 MT per annum capacity and a 16-acre facility, and reported a turnover of ₹159 crores in FY25 (up from ₹103 crores in FY24 and ₹35 crores in FY23). Post-acquisition, Metalfab will become a material subsidiary of LEWL. The deal is expected to close by 31st May 2025, and fits LEWL's strategy of expanding in heavy engineering alongside its earlier acquisitions of Techno Industries and Bhilai Engineering Corporation assets.
This is a sizable acquisition for LEWL, adding meaningful revenue (Metalfab's FY25 turnover of ~₹159 cr is significant) and capacity in heavy fabrication, which should strengthen growth prospects. The stock may react positively given the strategic fit and strong order book references, though investors should watch integration execution and the cost (₹28.4 cr for a 76% stake implies a valuation of ~₹37 cr).