LEEL Electricals Limited (formerly Lloyd Electric & Engineering Limited) has announced a strategic relocation of its manufacturing operations along with ambitious capacity expansion plans. The company disclosed these developments through a regulatory filing dated May 02, 2026, under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Facility Relocation Details

The company is shifting its manufacturing facility from Greater Noida to Uttarakhand. The relocation involves moving operations from Plot no. 57, Unit II, Ecotech XII Industrial Area, Gautam Buddha Nagar, Greater Noida, Uttar Pradesh to Plot No. 5, 6-7, Sector-4, IIE SIDCUL, Pant Nagar, Rudrapur, Uttarakhand 263153. This strategic move represents a significant operational restructuring for the electrical equipment manufacturer.

Capacity Expansion Framework

The company has outlined comprehensive capacity addition plans alongside the facility relocation. The expansion details demonstrate LEEL Electricals' commitment to scaling operations significantly over the next few years.

Investment and Financing Strategy

The capacity expansion project requires an investment ranging from Rs.80-100 crores, which the company plans to finance through a combination of equity and debt. The expansion is scheduled for completion within the next two years, with a target date of May 2028. The company has identified business expansion as the primary rationale for this significant capital investment.

Operational Transition

Currently, LEEL Electricals operates at 20% capacity utilization at its existing facility. The relocation to Pant Nagar, combined with the substantial capacity increase, positions the company for enhanced operational efficiency and market reach. The new facility location in Uttarakhand's industrial corridor may provide strategic advantages in terms of logistics and operational costs.

Regulatory Compliance

The announcement was made in accordance with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, dated January 30, 2026. Managing Director Neeraj Gupta signed the disclosure, ensuring full regulatory compliance for both the facility shift and capacity addition plans. The company has informed both BSE Limited and National Stock Exchange of India Limited about these significant operational developments.

LEEL Electricals Limited has notified stock exchanges that it will defer submission of its share capital reconciliation audit report for the financial year ended 31.03.2026 due to ongoing capital restructuring activities following its acquisition.

Corporate Restructuring Background

The company is currently undergoing a comprehensive takeover by Krishna Ventures Limited (KVL), which was approved as the successful auction purchaser by the National Company Law Tribunal (NCLT) Allahabad Bench. The NCLT initiated liquidation proceedings against LEEL Electricals on 06.12.2021 and subsequently approved the sale of the company as a going concern on 21.03.2024. A sale certificate was issued on 12.06.2024, and new management was inducted on the Board effective 01.07.2024.

Board Approved Capital Restructuring Measures

The Board of Directors has approved several significant capital restructuring measures across multiple meetings:

Share Capital Restructuring Details

The capital restructuring involves multiple components designed to facilitate the company's transition under new ownership. The existing promoter and promoter group shareholding will be completely cancelled and reduced to zero without any payout. Public shareholders will see their holdings reduced significantly, with the record date set as 22.11.2024 for determining eligible shareholders.

The proportionate allotment of 5,43,011 equity shares to eligible public shareholders aims to achieve the minimum public shareholding requirement of 5% of post-issue paid-up capital, in compliance with Rule 19A of Securities Contracts (Regulations) Rules, 1957.

Regulatory Compliance and Process Status

LEEL Electricals has filed relevant corporate action forms and listing applications with the concerned depositories and stock exchanges. The company stated that these filings are currently under process. Given the extensive nature of the capital restructuring exercise, the management determined that submitting the share capital reconciliation audit report as required under Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018 would serve no meaningful purpose until the restructuring is completed.

Current Status

The acquirer Krishna Ventures Limited is in the process of completing the takeover, including acquisition of company records and papers. The comprehensive nature of the restructuring, involving cancellation of existing shareholdings and fresh allotments, necessitates completion of the capital restructuring before meaningful reconciliation reporting can be undertaken.