Intimation of completion of acquisition of Thriveni Earthmovers and Infra Private Limited
LLOYDSME · price
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Awaiting price reaction for this filing.
Lloyds Metals and Energy has completed its acquisition of a 79.82% equity stake in Thriveni Earthmovers and Infra Private Limited (TEIL) for Rs. 70 crores, making TEIL a subsidiary effective July 1, 2025. TEIL was formed by demerging the Mine Developer and Operator (MDO) business from Thriveni Earth Movers Private Limited, with NCLT approval received on June 12, 2025. TEIL currently holds mining contracts totalling 71 million tonnes, expected to scale up to 123.9 million tonnes, including the strategic Surjagarh Iron Ore Mine contract for Lloyds. The acquisition is expected to reduce iron ore mining costs and add significant consolidated revenue to Lloyds Metals.
This is a value-accretive acquisition that should materially boost Lloyds Metals' consolidated revenue and margins by bringing its largest mining contractor in-house. The deal also reduces commodity price exposure through a service-based, long-term contract model, which may support a positive stock reaction.