Sky United LLP, a promoter entity of Lloyds Metals and Energy Limited , has disclosed substantial acquisition of equity shares following the conversion of convertible warrants on December 31, 2025. The disclosure was made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Warrant Conversion Details

Sky United LLP converted 74,99,998 convertible warrants into equity shares at an issue price of ₹740 per share, comprising face value of ₹1 and premium of ₹739 per warrant. The conversion was part of the preferential allotment approved by the company's board on December 31, 2025.

Shareholding Pattern Changes

Following the warrant conversion, Sky United LLP's shareholding in Lloyds Metals has increased significantly. The entity's voting rights percentage has risen from 12.47% to 13.49% of the total share capital.

Capital Structure Impact

The warrant conversion has resulted in changes to Lloyds Metals' capital structure. The company's equity share capital increased following the allotment of shares to various warrant holders.

Regulatory Compliance

Sky United LLP filed the disclosure on January 2, 2026, with BSE Limited and National Stock Exchange of India Limited, where Lloyds Metals shares are listed. The disclosure was signed by Hemankur Upadhyaya, Designated Partner of Sky United LLP.

The company had originally allotted 3,67,95,000 convertible warrants to promoters and non-promoter groups, out of which 1,52,68,950 warrants were exercised by warrant holders as of December 31, 2025. Sky United LLP's conversion represents the largest single conversion among all warrant holders.

Lloyds Metals & Energy Limited announced significant board decisions from its December 31, 2025 meeting, including major equity share allotments under employee stock option plans and conversion of preferentially issued convertible warrants worth ₹734.44 crores.

ESOP Allotment Under 2017 Plan

The board approved the allotment of 5,87,818 equity shares to Lloyds Employees Welfare Trust under the Lloyds Metals and Energy Limited Employee Stock Option Plan – 2017. The shares were allotted at ₹4.00 per equity share, including a premium of ₹3.00 per share.

Following this allotment, the company's issued and paid-up equity share capital increased to ₹52,90,90,088, divided into 52,90,90,088 equity shares of face value ₹1.00 each.

Convertible Warrant Conversion

The board approved the conversion of 1,52,68,950 convertible warrants into equity shares, generating proceeds of ₹734.44 crores. The warrants were originally allotted on preferential basis following the Extraordinary General Meeting held on July 29, 2024.

The conversion was executed at ₹481.00 per warrant (65% of the issue price), with each warrant convertible into one equity share at an issue price of ₹740.00 per share.

New ESOP Grant Under 2024 Scheme

The board granted 1,60,000 employee stock options under the Lloyds Metals and Energy Employee Stock Option Scheme – 2024, expanding the company's employee benefit programs.

Capital Structure Impact

Post these allotments, the company's capital structure shows significant expansion. The issued, subscribed and paid-up capital increased to ₹54,43,59,038, divided into 54,43,59,038 equity shares of face value ₹1.00 each.

Regulatory Compliance and Meeting Details

The board meeting was conducted from 12:02 PM to 12:42 PM IST on December 31, 2025. All allotments comply with Securities and Exchange Board of India regulations, including the Share Based Employee Benefits and Sweat Equity Regulations, 2021, and Listing Obligations and Disclosure Requirements Regulations, 2015. The company has received in-principle approval from both BSE Limited and National Stock Exchange of India Limited for the equity shares allotted under the ESOP plan.