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:

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.

Promoter Thriveni Earthmovers Private Limited released the pledge on 8,00,000 equity shares of Lloyds Metals & Energy , representing 0.14% of the paid-up share capital.

The release took effect on September 2, 2026, following an increase in the market value of the pledged shares. This allowed for the return of excess collateral securing financial assistance availed by Sky United LLP.

Disclosure Details

The disclosure was filed under Regulation 31(1) and Regulation 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The original pledge agreement was dated December 26, 2025, involving Thriveni Earthmovers as the pledgor and Aditya Birla Capital Limited as the pledgee.

Post-Event Holding

Following the release, the number of encumbered shares held by Thriveni Earthmovers decreased from 1,00,05,501 (17.77%) to 95,06,699 (16.88%). The total promoter holding remains unchanged, with the reduction strictly applying to the pledged portion.

What the Numbers Show

The partial release indicates improved collateral coverage ratios for the underlying loan facility. With the market value of the pledged shares rising, the lender required less security, allowing the promoter to unencumber 0.14% of the company’s equity without altering the total debt obligation or the promoter’s overall stake.