News ArticleLloyds Engineering Works Receives Rs. 982.42 Crore from Rights Issue Proceeds by September 30, 2026
Monitoring Agency Report confirms funds utilization aligns with disclosed objects; Rs. 86.59 Crore reallocated to working capital with shareholder approval
Lloyds Engineering Works Limited's monitoring agency confirms receipt of Rs. 982.42 Crore from the Rs. 987.25 Crore partially paid-up rights issue as of September 30, 2026. No deviations were reported in the utilization of proceeds, with a reallocation of Rs. 86.59 Crore towards working capital approved by shareholders via postal ballot on September 25, 2026.
Lloyds Engineering Works Limited
Corporate Action
Lloyds Engineering Works Limited has received Rs. 982.42 Crore against its partially paid-up rights issue totaling Rs. 987.25 Crore as of September 30, 2026, according to the monitoring agency report reviewed by the Board.
The rights issue was open from May 15 to May 30, 2025, aiming to raise Rs. 987.25 Crore through partially paid-up equity shares.
Brickwork Ratings India Private Limited, serving as the monitoring agency, released the third quarterly report confirming the proceeds' usage complies with SEBI regulations and the issue objectives.
No deviations were noted from the disclosed objects of the issue. However, shareholders approved a reallocation of Rs. 86.59 Crore towards working capital requirements on September 25, 2026, by postal ballot.
The company reported Rs. 23.54 Crore was received during the quarter ended September 30, 2026, contributing to the aggregate Rs. 982.42 Crore received so far out of the Rs. 987.25 Crore issue size.
Highlights
- Rights issue size: Rs. 987.25 Crore.
- Aggregate amount received as of September 30, 2026: Rs. 982.42 Crore.
- Quarterly proceeds received: Rs. 23.54 Crore.
- No material deviations from the issue use as per monitoring agency report.
- Shareholders approved reallocation of Rs. 86.59 Crore to working capital on September 25, 2026.
Key Data Snapshot
What happened
- Lloyds Engineering Works completed a partially paid-up rights issue aimed at raising Rs. 987.25 Crore announced in May 2025.
- As of September 30, 2026, Rs. 982.42 Crore had been received as proceeds from this issue.
- A monitoring agency report by Brickwork Ratings affirmed the proper utilization of these funds against the issue objectives.
Key details
- The rights issue covered 308,517,476 equity shares with a 32% paid-up status.
- The monitoring report covers the quarter ended September 30, 2026, and includes approvals and confirmations up to November 2, 2026.
- Shareholders approved a reallocation of Rs. 86.59 Crore from the rights issue proceeds towards working capital on September 25, 2026, via postal ballot.
Regulatory and governance context
- The report was prepared pursuant to the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and Listing Regulations.
- Monitoring was conducted by Brickwork Ratings India Private Limited, an independent agency without any conflict of interest.
- The company's Board and Audit Committee reviewed and approved the monitoring agency report.
Highlights
- Rights issue size: Rs. 987.25 Crore.
- Aggregate amount received as of September 30, 2026: Rs. 982.42 Crore.
- Quarterly proceeds received: Rs. 23.54 Crore.
- No material deviations from the issue use as per monitoring agency report.
- Shareholders approved reallocation of Rs. 86.59 Crore to working capital on September 25, 2026.
Disclosures
- SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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