News ArticleLloyds Engineering Raises Rs 504.04 Crores in Preferential Share Issue Including Acquisition of 40.74% Stake in SISCOL
The quarter ended September 30, 2026 saw Lloyds allot equity shares worth Rs 504.04 crores including Rs 499.05 crores via share swap approved by shareholders
Lloyds Engineering Works Limited completed a preferential equity share issue raising Rs 504.04 crores during the quarter ended September 30, 2026, including a Rs 499.05 crore share swap to acquire a 40.74% stake in Steel Infra Solutions Company Limited (SISCOL). This fundraising comprises both cash and non-cash considerations approved by shareholders.
Lloyds Engineering Works Limited
Preferential Issue
Lloyds Engineering Works Limited raised a total of Rs 504.04 crores through a preferential equity share issue during the quarter ended September 30, 2026, combining cash and share swap transactions to acquire a significant stake in Steel Infra Solutions Company Limited (SISCOL).
The funds raised comprised Rs 499.05 crores through a share swap in exchange for up to 1.67 crore equity shares representing a 40.74% stake in SISCOL, and Rs 4.99 crores through a cash component.
The preferential allotment was approved by the company's shareholders at an Extra-Ordinary General Meeting held on July 15, 2026, and subsequently allotted on August 17, 2026, following in-principle approvals from the BSE and NSE.
The share swap valuation was based on an independent valuation of Rs 300 per SISCOL share, with an issue price of Rs 71.25 per Lloyds equity share, including a premium of Rs 70.25 per share.
The transaction involved allotting a total of 7.13 crore equity shares of face value Rs 1 each at the issue price, split between consideration other than cash (share swap) and cash consideration.
Highlights
- Total funds raised: Rs 504.04 crores through preferential issue.
- Share swap component: Rs 499.05 crores for 40.74% stake in SISCOL.
- Cash consideration: Rs 4.99 crores.
- Total equity shares allotted: 7,13,74,554 shares at Rs 71.25 per share.
- Shareholder approval granted at EGM on July 15, 2026.
- Allotment date: August 17, 2026 after stock exchange approvals.
Key Data Snapshot
What happened
- Lloyds Engineering Works Limited raised Rs 504.04 crores from a preferential equity share issue combining cash and share swap consideration.
- The major portion of Rs 499.05 crores was raised by issuing shares in exchange for a 40.74% stake in Steel Infra Solutions Company Limited (SISCOL).
- The cash component of Rs 4.99 crores was also raised by issuing equity shares at Rs 71.25 each.
- The preferential allotment was approved at a shareholder meeting in July 2026 and finalized with allotment in August 2026.
Key details
- 7,13,74,554 equity shares of face value Rs 1 each were allotted at Rs 71.25 per share including a premium of Rs 70.25.
- The share swap involves issuance of 7,00,42,458 shares for acquisition of SISCOL shares.
- The SISCOL shares were independently valued at Rs 300 per share.
- The transaction helps Lloyds Engineering to secure a significant minority stake in SISCOL through the share swap.
- The company's monitoring agency report confirms no deviation from intended utilization of proceeds.
Regulatory and governance context
- The preferential issue complied with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
- The report disclosed was prepared by Brickwork Ratings India Private Limited as the monitoring agency for the quarter ending September 30, 2026.
- No deviations or conflicts of interest were reported in the monitoring agency report.
- All transactions and disclosures comply with required stock exchange approvals (BSE and NSE).
Highlights
- Total funds raised: Rs 504.04 crores through preferential issue.
- Share swap component: Rs 499.05 crores for 40.74% stake in SISCOL.
- Cash consideration: Rs 4.99 crores.
- Total equity shares allotted: 7,13,74,554 shares at Rs 71.25 per share.
- Shareholder approval granted at EGM on July 15, 2026.
- Allotment date: August 17, 2026 after stock exchange approvals.
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
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