ASI Industries Limited sold its entire shareholding in Lloyds Engineering Works Ltd on July 21, 2026. The company divested 6,05,291 equity shares, representing approximately 0.041% of the paid-up share capital of the target entity. The transaction was executed through open market operations at prevailing market prices via the stock exchange mechanism. Following this sale, ASI Industries Limited holds no equity shares in Lloyds Engineering Works Ltd.

The disclosure regarding the sale was submitted to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that the sale of investment has no material impact on its financials, operations, or other activities. The intimation was signed by Manish P. Kakrai, Company Secretary & Compliance Officer, on July 22, 2026.

Previously, on July 17, 2026, ASI Industries Limited had acquired 6,05,291 equity shares of Lloyds Engineering Works Ltd for ₹5.27 crore. At that time, the company had explicitly stated that the acquisition was solely for investment purposes and that it did not intend to acquire control of the target entity. The consideration for that acquisition was entirely in cash, and the transaction was conducted at arm's length.

Lloyds Engineering Works Ltd operates in the engineering sector, specializing in the design and manufacture of heavy equipment, machinery, and systems. Its portfolio caters to industries including hydrocarbons, oil & gas, steel plants, power plants, nuclear plant boilers, and turnkey projects. The entity is incorporated in India and has a presence solely within the country.

Financial data for Lloyds Engineering Works Ltd as of March 31, 2026, indicates a standalone turnover of ₹1052.22 crore, a Profit After Tax (PAT) of ₹118.27 crore, and a net worth of ₹1595.31 crore. The target entity has demonstrated a consistent growth trajectory in turnover over the past three financial years.

The transactions do not fall under related party transactions, and the promoter or promoter group of ASI Industries Limited holds no interest in the acquired entity. No governmental or regulatory approvals were required for the completion of these transactions.

Asi Industries has incorporated a new subsidiary, ASI Steel & Energy Limited, to diversify its operations into the iron and steel sector. The subsidiary was established in Mumbai, Maharashtra, on June 26, 2026, to explore opportunities for setting up a TMT steel plant. This strategic expansion aims to leverage the growth in the infrastructure industry and the rising demand for iron and steel products, as opportunities for expansion in the company's existing main business of mining and processing Kotah Stone are limited.

The Board of Directors decided to enter the iron and steel industry to drive future growth. The newly incorporated entity is classified as a related party transaction since it is a subsidiary of Asi Industries. The company has subscribed to 75% of the equity share capital of ASI Steel & Energy Limited, while the promoter group holds the remaining 25% stake.

Investment and Shareholding Details

The initial investment for the acquisition is INR 7,50,000. The subscription to the share capital was made in cash, involving 75,000 equity shares of INR 10 each at par. The Certificate of Incorporation was uploaded on the portal of the Ministry of Corporate Affairs (MCA) on June 26, 2026, at 19:03 hours IST. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The subsidiary has not yet commenced business operations, and no specific governmental or regulatory approvals were required for its incorporation. The acquisition process has been completed.