Lloyds Enterprises Limited has informed the Exchange regarding 'General Announcement'.
LLOYDSENT · price
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Lloyds Enterprises has informed the exchanges that its material subsidiary, Lloyds Engineering Works Limited (LEWL), has approved a merger by absorption of three group entities: Lloyds Infrastructure & Construction Ltd (LICL), Metalfab Hightech Pvt Ltd, and Techno Industries Pvt Ltd. The appointed date is April 1, 2025, and the transaction is subject to NCLT, CCI, and stock exchange approvals. Share exchange ratios are 1,798 LEWL shares for every 1,500 LICL shares and 94 LEWL shares for every 5 Metalfab shares. LEWL will issue ~38.1 crore new shares, expanding total equity from 147.42 crore to 185.52 crore shares. On a combined H1FY26 basis, the four entities have a total income of ₹1,484.3 crore, EBITDA of ₹242.1 crore, PAT of ₹161 crore, and an order book of ~₹6,150 crore. Promoter B. Prabhakaran and family will hold 21.03% in the expanded LEWL post-merger.
This is a within-group consolidation at the subsidiary level rather than a new acquisition, so direct impact on Lloyds Enterprises shareholders is indirect. The enlarged LEWL gets a stronger order book and vertical integration, but the ~26% expansion of LEWL's equity base could dilute existing shareholders of the subsidiary over time.