Lloyds Engineering Works Limited's ownership in Lloyds Advance Defence Systems Limited (LADSL) has been diluted to 85% following a share allotment on June 29, 2026. The reduction in stake changes the status of LADSL from a wholly-owned subsidiary to a subsidiary, impacting the company's holding structure.

LADSL had passed a special resolution on June 24, 2026, approving a private placement of shares to its holding company and two other investors. Subsequently, the Board of Directors of LADSL passed a resolution on June 29, 2026, for the allotment of these shares. This allotment resulted in the dilution of the holding company's stake by 15%.

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had previously informed the exchanges regarding the potential acquisition of shares in an intimation dated December 12, 2025.

The following table summarizes the key changes in the shareholding structure:

The communication was signed by Rahima Shabbir Shaikh, Company Secretary and Compliance Officer for Lloyds Engineering Works Limited.

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.