Lloyds Metals And Energy Limited has informed the Exchange regarding allotment of 17620550 securities pursuant to Preferential Issue at its meeting held on March 13, 2026
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Lloyds Metals' Board, at its March 13, 2026 meeting, approved the allotment of 1,76,20,550 equity shares (face value Rs. 1 each) to 47 Non-Promoter allottees upon conversion of an equal number of convertible warrants issued earlier at Rs. 740 per share (Rs. 1 face value + Rs. 739 premium). The company received Rs. 847.55 crore as the balance 65% subscription amount against these warrants. As a result, the company's paid-up equity capital rises from 54,51,64,538 shares to 56,27,85,088 shares, a dilution of roughly 3.2%. Separately, the Board approved the wholly owned subsidiary Lloyds Global Resources FZCO acquiring up to 49% in Cayman Islands-based Virtus Lloyds Minerals Holding for up to USD 1 million, with the target entity set to invest in copper and cobalt mining assets in the Democratic Republic of Congo.
The warrant conversion confirms Non-Promoter investors are following through on their commitment, bringing in Rs. 847.55 crore of fresh capital, though it results in a modest ~3.2% equity dilution for existing shareholders. The overseas acquisition marks Lloyds Metals' entry into copper and cobalt mining in DR Congo via a newly formed Cayman Islands vehicle, signaling global expansion into critical minerals.