Lloyds completes 49.99% Thriveni Pellets acquisition through share swap
LLOYDSME · price
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On the reaction day the stock moved 1.6 pts less than Nifty Midcap 150 and 1.1 pts less than its Industrial Minerals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Lloyds Metals and Energy completed the acquisition of 49.99% in Thriveni Pellets. It issued 19,57,458 shares at Rs 1,460.50 each, worth Rs 285.89 crore, to Adler Industrial Services as non-cash consideration. It also acquired 0.99% from Thriveni Earthmovers. Total shares rose from 52,64,48,232 to 52,84,05,690.
Gives Lloyds a 49.99% stake in Thriveni Pellets, with about 3.7% dilution to existing shareholders from the share swap.