FutureSenseIndia

Lloyds Engineering Acquires 12.25% Stake in LICL, Making it an Associate Company

EIL IRCON Solar Industries contract wins

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:


Key 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.

This acquisition strengthens Lloyds Engineering Works Limited’s position by increasing its stake in LICL to 24.50%. Valued at ₹14.21 Crores, the transaction supports the company’s strategic goals and aligns with its core business objectives.

Leave a Reply

Your email address will not be published. Required fields are marked *