Lloyds Engineering Works Limited has scheduled an Extraordinary General Meeting (EGM) on July 15, 2026, to seek shareholder approval for acquiring an 88.12% stake in Steel Infra Solutions Company Limited (SISCOL) for a total consideration of ₹1,073.40 crore. The transaction, structured through a combination of cash and share swap, aims to create an integrated engineering and structural fabrication platform. The Board approved the proposal on June 18, 2026.

Deal Structure and Consideration

The acquisition involves the purchase of 3,57,80,117 equity shares. Lloyds Engineering Works Limited will acquire 52.16% of the stake, while its holding company, Lloyds Enterprises Limited, and Streamland Estate LLP will acquire 17.98% each.

As part of the non-cash consideration, Lloyds Engineering Works Limited will issue 7,06,74,554 equity shares at ₹71.25 per share to the sellers. The Board also approved raising additional capital through the preferential allotment of 7,00,000 equity shares to non-promoters at ₹71.25 per share.

EGM and Voting Details

The EGM will be held through Video Conferencing (VC) or Other Audio Visual Means (OAVM) at 11:00 a.m. IST on July 15, 2026. The company has fixed July 8, 2026, as the cut-off date to determine member eligibility for voting. Remote e-voting will commence on July 10, 2026, at 9:00 a.m. and conclude on July 14, 2026, at 5:00 p.m. Harshvardhan Tarkas has been appointed as the Scrutinizer for the e-voting process.

Strategic Rationale and Impact

The acquisition is designed to build a diversified, multi-disciplinary engineering platform. SISCOL's heavy steel fabrication and infrastructure solutions business complements Lloyds Engineering's existing portfolio. The combined entity expects to generate operating synergies through the consolidation of procurement, shared engineering resources, and optimisation of manufacturing capacity.

Post-transaction, the combined platform will possess a structural fabrication capacity of approximately 150,000 MTPA, with a roadmap to expand to approximately 200,000 MTPA. SISCOL will continue to operate under its existing brand and leadership, with Ravi Uppal continuing as Chairman and Managing Director. The company also intends to file a Draft Red Herring Prospectus for the listing of SISCOL within 30 months of the transaction's completion.

Financial Profile of SISCOL

SISCOL reported operating revenues of approximately ₹817 crore, EBITDA of approximately ₹92 crore, and a net profit of approximately ₹44 crore for FY26. It holds an order book of approximately ₹1,134 crore.

Lloyds Engineering Works Ltd has closed its trading window for designated persons and their relatives effective July 1, 2026, to ensure compliance with insider trading regulations ahead of its quarterly financial results. The restriction will remain in force until 48 hours after the conclusion of the board meeting convened to approve the financial results for the quarter ended June 30, 2026. This measure is mandated by the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, and the company's internal Insider Trading - Code of Conduct.

The board meeting to consider and approve the audited or unaudited financial results, both standalone and consolidated, for the first quarter of FY27 is scheduled to take place soon. The exact date of this meeting will be communicated to the stock exchanges separately. Until the window reopens, all designated persons are strictly advised against trading in the company's securities.

The closure of the trading window is a standard procedural step implemented by companies to prevent the misuse of unpublished price-sensitive information (UPSI) during the period leading up to financial announcements. By restricting trading activities, Lloyds Engineering Works aims to maintain market integrity and protect shareholder interests.

The company has requested the exchanges to take the intimation on record. Lloyds Engineering Works Limited is headquartered in Mumbai, with its registered office located in the MIDC Industrial Area in Murbad, District Thane.