Lloyds Metals shares in focus on acquiring 80% equity stake in Thriveni Earthmovers

Shares of Lloyd Metals and Energy will likely remain in focus on Thursday after the company announced that it has acquired a 79.82% equity stake in Thriveni Earthmovers and Infra.

“We would hereby like to inform that at the Meeting of the Board of Directors of Lloyds Metals and Energy Limited (“the Company”) held today i.e. 18th December 2024 which commenced at 04: 08 P.M. and concluded at 06:30 P.M. at its Corporate Office situated at A-2, 2 nd Floor, Madhu Estate, Pandurang Budhkar Marg, Lower Parel, Mumbai – 400013, the Board of Directors have, inter alia, approved the following: 1. Acquisition 79.82% of the total equity share capital of Thriveni Earthmovers and Infra Private Limited,” said the company in a filing to the exchanges.

The company will subscribe to 70 crore equity shares, representing 79.82% of the total equity share capital of Thriveni Earthmovers and Infra under the acquisition.


The total cost of acquisition stands at Rs 70 crore.

Lloyds Metals additionally informed that it will issue a guarantee of Rs 2,500 crore in favor of Thriveni Earthmovers’ promoters, covering the principal amount and applicable returns to external lenders.

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The shares of Lloyds Metals and Energy have increased by 89% in the last one year and by 95% in the current year so far. Meanwhile, in the last 6 months and 3 months, the stock has surged by 57.8% and 44.3% respectively.

The stock closed 2.3% higher at Rs 1,179.25 on the BSE in the previous trading session.

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