Lloyds Metals promoter creates NDU on 16% stake for term loan
- Thriveni Earthmovers created a non-disposal undertaking over 90,086,636 shares (16% stake)
- Arrangement supports a Rupee Term Loan Facility availed by Lloyds Metals & Energy
- Promoter retains voting rights and beneficial ownership; no pledge created
- Total encumbered promoter holding rises to 17.03% from 1.03%
- Other promoters including Madhur Rajesh Gupta also created similar undertakings
*this image is generated using AI for illustrative purposes only.
Thriveni Earthmovers Private Limited has created a non-disposal undertaking over 90,086,636 equity shares of Lloyds Metals & Energy , representing 16% of the total share capital. The move supports a Rupee Term Loan Facility availed by the listed entity.
The undertaking was entered into with SBICAP Trustee Company Limited on August 25, 2026. It was disclosed to stock exchanges on September 5, 2026, under Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Structure of Encumbrance
The promoter clarified that this arrangement is a non-disposal undertaking rather than a pledge. Legal and beneficial ownership of the shares remains with Thriveni Earthmovers Private Limited. The promoter retains voting rights and entitlement to dividends, subject to financing document terms.
No transfer of shares to a third-party demat account has occurred. The shares continue to be held in Thriveni’s demat account, subject to contractual restrictions on disposal during the applicable period.
Promoter Holding Details
Thriveni Earthmovers holds 10,00,05,501 shares (17.77%). Prior to this event, 5,780,362 shares (1.03%) were already encumbered. The new undertaking brings the total encumbered holding to 95,866,998 shares (17.03%).
Other promoters also created non-disposal undertakings for the same facility:
| Promoter Entity | Shares Encumbered | % Stake | Date |
|---|---|---|---|
| Madhur Rajesh Gupta | 90,00,000 | 1.60% | September 2, 2026 |
| Shreekrisna Mukesh Gupta | 90,00,000 | 1.60% | September 2, 2026 |
| Lloyds Enterprises Limited | 2,596 | 0.0005% | September 2, 2026 |
What the Numbers Show
The encumbrance covers a significant portion of the promoter’s stake, with total encumbered shares rising from 1.03% to 17.03% of the total share capital. This indicates that nearly all of Thriveni’s current holding is now subject to disposal restrictions for this specific financing transaction.
Historical Stock Returns for Lloyds Metals & Energy
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.39% | +1.36% | -11.10% | +50.60% | +36.36% | 0.0% |
How will the significant increase in encumbered promoter shares impact Lloyds Metals & Energy's credit rating and future borrowing costs?
What specific financial metrics or performance milestones must the company meet to release these non-disposal undertakings and restore free disposal rights?
Could the restriction on nearly 17% of the share capital deter potential institutional investors concerned about liquidity and governance risks?
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