Intimation for approval to acquire equity stake in an entity in Cayman Islands by Lloyds Global Resources FZCO, wholly owned subsidiary of the Company
LLOYDSME · price
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The board of Lloyds Metals and Energy approved two key items on March 13, 2026. First, the company allotted 1,76,20,550 equity shares to 47 non-promoter allottees upon conversion of convertible warrants at Rs. 740 per share (Rs. 1 face value + Rs. 739 premium), bringing in approximately Rs. 847.55 crores. The company's paid-up equity capital increased from 54,51,64,538 to 56,27,85,088 shares. Second, the board approved its wholly owned subsidiary Lloyds Global Resources FZCO acquiring up to 49% equity stake in Virtus Lloyds Minerals Holding (VLMH), a Cayman Islands entity incorporated on February 24, 2026, for up to USD 1 million. VLMH will act as an investment vehicle for copper and cobalt mining assets in the Democratic Republic of Congo. The acquisition is targeted to complete by end of April 2026.
The warrant conversion meaningfully strengthens the company's capital base by nearly Rs. 848 crores, supporting its growth plans. The DR Congo copper-cobalt vehicle is a small-ticket strategic move into critical minerals but is unlikely to move the stock on its own, though it signals the company's intent to expand its mining footprint internationally.