Lloyds Metals and Energy Limited announced the completion of a significant warrant conversion exercise and strategic investment approval during its board meeting held on March 13, 2026. The company allotted 1,76,20,550 equity shares to 47 non-promoter investors through convertible warrant conversion, raising Rs. 8,47,54,84,550.

Major Warrant Conversion Exercise

The board approved the allotment of equity shares following the conversion of convertible warrants originally issued through preferential allotment. The warrants were exercised at a conversion price of Rs. 481.00 per share, with the total issue price being Rs. 740.00 per share including a premium of Rs. 739.00.

Top Investor Allocations

The warrant conversion attracted substantial participation from institutional and individual investors, with Goodday Enterprises LLP leading the allocation with 27,00,000 shares.

Strategic International Investment Approval

The board simultaneously approved a strategic international investment proposal for Lloyds Global Resources FZCO, the company's wholly owned subsidiary, to acquire up to 49% equity stake in Virtus Lloyds Minerals Holding, a Cayman Islands entity.

Impact on Share Capital Structure

The warrant conversion significantly expanded the company's equity base, with the issued and paid-up share capital increasing substantially. All newly allotted equity shares rank pari passu with existing equity shares in terms of dividend rights and voting rights.

The target entity Virtus Lloyds Minerals Holding was incorporated on February 24, 2026, and will function as an investment company for acquiring and developing mining licenses while undertaking related CSR activities in the copper and cobalt mining sector.

Lloyds metals & energy has received disclosure from its promoter Thriveni Earthmovers Private Limited regarding the release of pledge on 64,28,883 equity shares. The pledge release became effective from 06th March, 2026, following the conversion of Optionally Fully Convertible Debentures as per the terms of the Share Pledge Agreement.

Pledge Release Details

The pledge release was executed under clauses 3.3.1 and 3.3.5 of the Unattested Share Pledge Agreement dated 07th February, 2024. This agreement was originally executed between Thriveni Earthmovers Private Limited and Catalyst Trusteeship Limited, which acts as Debenture Trustee for the subscribers of Optionally Fully Convertible Debentures.

Impact on Shareholding Structure

Following the pledge release, Thriveni Earthmovers Private Limited's encumbered shareholding has been significantly reduced. The company continues to maintain its position as a key promoter while reducing its pledge obligations.

Debenture Conversion Framework

The pledge release stems from the conversion mechanism built into the Optionally Fully Convertible Debentures structure. The original pledge was created to secure the interests of debenture holders, including Kemwell Biopharma Private Limited, Kemfin Services Private Limited, and Anand Jaikumar Jain as Trustee of KJ Trust.

Regulatory Compliance

The disclosure has been made in compliance with Regulation 31(1) and 31(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011. The company has informed both BSE Limited and National Stock Exchange of India Limited about this development, ensuring full transparency with market participants and regulatory authorities.