Lloyds Engineering Works shareholder Thriveni Earthmovers Private Limited has created a pledge over 1.24 crore equity shares, representing 0.80% of the company's equity share capital. The encumbrance was established in favour of Aditya Birla Capital Limited, effective October 1, 2026.

This transaction involves no acquisition or disposal of shares by the pledgor. Instead, it secures a financial facility availed by Streamland Estate LLP, the borrower. The pledge arises from a loan facility originally granted by Tata Capital Limited, which subsequently sold down a portion of the debt to Aditya Birla Capital Limited.

The agreement is executed under an Unattested Share Pledge Agreement dated September 30, 2026, involving Thriveni Earthmovers Private Limited as the Pledgor, Aditya Birla Capital Limited as the Lender, and Streamland Estate LLP as the Borrower. The disclosure was filed with stock exchanges on October 3, 2026, under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Impact on Shareholding Structure

Thriveni Earthmovers Private Limited holds 13,39,60,181 equity shares in Lloyds Engineering Works, constituting 8.64% of the total share capital. Prior to this new pledge, 6,77,34,594 shares were already encumbered. The creation of the additional pledge increases the total number of encumbered shares held by Thriveni.

What the Numbers Show

A significant portion of Thriveni's stake in Lloyds Engineering Works is now under encumbrance. Following this transaction, 8,01,34,594 out of the 13,39,60,181 shares held by Thriveni are pledged. This means nearly 60% of Thriveni's total holding in Lloyds Engineering Works is currently encumbered. The remaining unencumbered stake stands at approximately 5.38 crore shares, representing about 3.47% of Lloyds' total equity share capital. This high level of encumbrance indicates that the majority of Thriveni's equity position in Lloyds is being used as collateral for debt obligations related to Streamland Estate LLP.

Lloyds Engineering Works Limited shareholders approved all four resolutions proposed in the postal ballot notice dated August 6, 2026. The approvals cover material related party transaction limits, a variation in rights issue objects, and an increase in the ESOP pool.

The voting results were declared on September 25, 2026, following the conclusion of the remote e-voting period. The scrutinizer’s report confirmed that each resolution received the requisite majority from the members present and voting.

Resolution details and outcomes

The company sought approval for two ordinary resolutions regarding related party transactions with its material subsidiaries, Techno Industries Private Limited and Metalfab Hightech Private Limited. Additionally, members voted on special resolutions to vary the objects of the rights issue mentioned in the April 19, 2025 letter of offer and to increase the ESOP pool under the Employee Stock Option Scheme 2021.

What the numbers show

A distinct divergence in shareholder sentiment was observed between the operational approvals and the compensation-related resolution. While the first three resolutions secured near-unanimous support with over 99.98% votes in favour, the fourth resolution regarding the ESOP pool increase saw significant dissent. Institutional investors cast 73.12% of their votes against the ESOP increase, contrasting sharply with the 0.00% opposition seen in the other items. Despite this institutional pushback, the resolution passed due to overwhelming support from retail non-institutional shareholders, who voted 99.91% in favour.

Voting summary

The following table summarizes the voting outcome for each resolution:

The record date for the postal ballot was August 21, 2026. The e-voting period commenced on August 27, 2026, and concluded on September 25, 2026. No invalid votes were reported across any of the four resolutions.