Lloyds Metals & Energy promoter group entities have created non-disposal undertakings (NDUs) on a combined 15.73% of the company’s equity shares. The encumbrances, disclosed on September 9, 2026, secure rupee term loan facilities availed by the listed entity.

The filings, made under Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, detail NDUs entered into with SBICAP Trustee Company Limited. Unlike pledges, these undertakings restrict share disposal while allowing promoters to retain voting rights and beneficial ownership.

Structure of the Encumbrance

The arrangement is classified as a non-disposal undertaking rather than a pledge. Legal and beneficial ownership of the shares remains with the respective promoter entities, which retain voting rights and entitlement to dividends, subject to financing document terms.

Shares continue to be held in the promoters’ demat accounts without transfer to third-party entities. The restriction prevents disposal of specified shares during the loan tenure, providing lenders assurance against dilution or exit without immediate liquidation rights over the equity.

Promoter Group Holdings

Multiple promoter group entities and individual promoters created new NDUs on September 4, 2026. While Crosslink Food and Farms created an NDU on 9.88% of its holding, Lloyds Metals & Minerals Trading LLP encumbered 2.80% of its stake. Other entities maintained existing positions.

Individual promoters also created NDUs to secure the facility:

• Ravi Babulal Agarwal (2.12%)
• Madhur Rajesh Gupta (1.71%)
• Shreekrishna Mukesh Gupta (1.71%)
• Mukesh Rajnarayan Gupta (0.20%)
• Renu Rajesh Gupta (0.21%)
• Abha Gupta (0.21%)
• Rajesh Rajnarayan Gupta (0.11%)

What the Numbers Show

The creation of NDUs across multiple promoter entities indicates a consolidated approach to securing debt for Lloyds Metals & Energy. With 15.73% of the promoter stake now under new NDUs in this single transaction, lenders sought broad assurance against promoter exit during the loan tenure. This structure preserves control rights while restricting liquidity, suggesting the financing terms prioritize stability of promoter commitment over immediate collateral liquidation.

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Promoter Shreekrishna Mukesh Gupta has created a non-disposal undertaking (NDU) on 1.60% of Lloyds Metals & Energy shares to secure term loan financing. The encumbrance, dated August 25, 2026, restricts share disposal but preserves voting and dividend rights.

The disclosure was filed with stock exchanges on September 8, 2026, under Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. SBICAP Trustee Company Limited acts as the security trustee for the facility.

Encumbrance Details

The NDU covers 9,000,000 equity shares held by Shreekrishna Mukesh Gupta. While the shares are subject to contractual restrictions on disposal, the promoter retains legal and beneficial ownership. No transfer of shares to a third-party demat account has occurred.

Other promoter group entities also created NDUs for the same financing arrangement:

• Madhur Rajesh Gupta: 9,000,000 shares (1.60%)
• Thriveni Earthmovers Private Limited: 90,086,636 shares (16.00%)
• Lloyds Enterprises Limited: 2,596 shares (0.0005%)

What the Numbers Show

The total promoter group stake encumbered via this transaction stands at approximately 19.20% of the company’s equity. This includes Thriveni Earthmovers, which now holds 17.03% of its stake under encumbrance after adding the new NDU to its existing pledge. The use of an NDU rather than a pledge allows promoters to retain voting control while providing security to lenders.