Lloyds Engineering Works Limited has acquired an additional 12.25% stake in Lloyds Infrastructure and Construction Limited (LICL) from Mahaprabhu Ventures Private Limited. This acquisition increases Lloyds Engineering Works Limited’s total stake in LICL to 24.50%, establishing LICL as an associate company. Below are the key highlights of the transaction:
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ToggleKey Details of the Acquisition
- Acquirer: Lloyds Engineering Works Limited (formerly Lloyds Steels Industries Limited).
- Target Entity: Lloyds Infrastructure and Construction Limited (LICL).
- Seller: Mahaprabhu Ventures Private Limited.
- Percentage Acquired: 12.25% of shares in LICL.
- Post-Acquisition Stake: Lloyds Engineering Works Limited now holds 24.50% in LICL.
- Acquisition Cost: ₹14,21,00,000 (Rupees Fourteen Crores and Twenty-One Lakhs).
- Consideration Mode: Cash.
- Transaction Classification: Related party transaction due to common directors but executed at arm’s length.
- Industry: Construction.
- Reason for Acquisition: Alignment of LICL’s objectives with those of Lloyds Engineering Works Limited.
- Completion Timeline: Shares are expected to be credited to the company’s demat account within 10-15 days.
About Lloyds Infrastructure and Construction Limited (LICL)
- CIN: U42101MH2023PLC400727.
- Authorized Capital: ₹45,00,00,000 (45 Crore equity shares of ₹1 each).
- Turnover: ₹395.14 Crores as of March 31, 2024.
- Date of Incorporation: April 12, 2023.
- Business Activities:
- Infrastructure Development: Roads, bridges, railway infrastructure, townships, and industrial civil works.
- Specialized Projects: Slurry pipelines, steel and technological structures, and mechanical utilities.
- Contract Models: BOOT, BOO, BOLT, PPP, and fee/contract basis projects.
- Other Services: Design, engineering, erection, installation, and instrumentation components.
- Country of Operation: India.