Thriveni Earthmovers Private Limited has announced the release of pledge on 64,14,150 equity shares of lloyds metals & energy , representing 1.18% of the company's paid-up share capital. The pledge release became effective from February 19, 2026, and was disclosed to stock exchanges on February 23, 2026.

Pledge Release Details

The pledge release pertains to an original Unattested Pledge Agreement executed on May 29, 2024, between Thriveni Earthmovers Private Limited and ICICI Bank Limited. The release was attributed to closure of loan and release of security arrangements with the bank.

Current Shareholding Position

Following the pledge release, Thriveni Earthmovers Private Limited's shareholding structure in Lloyds Metals and Energy Limited has been updated. The company continues to hold a significant stake as a promoter entity.

Regulatory Compliance

The disclosure was 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 notification was simultaneously submitted to BSE Limited and National Stock Exchange of India Limited, where Lloyds Metals and Energy Limited shares are listed.

Other Promoter Holdings

The disclosure also provided a comprehensive overview of other promoter entities and their encumbrance status. Notable promoter holdings include Crosslink Food and Farms Private Limited with 6,55,58,548 shares (12.03%) and Sky United LLP holding 7,34,54,636 shares (13.47%). Among these, only Crosslink Food and Farms Private Limited maintains encumbered shares totaling 89,65,408 shares representing 1.64% of the total share capital.

The pledge release represents a reduction in the overall encumbered shareholding of the promoter group and reflects the completion of financial obligations with ICICI Bank Limited. Thriveni Earthmovers Private Limited continues to maintain its promoter status with substantial shareholding in Lloyds Metals and Energy Limited.

Lloyds metals & energy Limited has established a new step-down subsidiary in Dubai to strengthen its international presence and explore strategic opportunities in the metals and mining sector. The company disclosed the incorporation of Virtus Lloyds Resources FZCO under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

Subsidiary Incorporation Details

Virtus Lloyds Resources FZCO was incorporated on 17th February, 2026, in the Dubai Multi Commodities Centre Zone, United Arab Emirates. The subsidiary was established by Lloyds Global Resources FZCO, which is a wholly owned subsidiary of Lloyds Metals and Energy Limited, making Virtus a step-down subsidiary of the parent company.

Business Objectives and Strategic Focus

The newly incorporated entity will focus on investment and trading in metals and mining activities. The primary objective is to expand Lloyds Metals and Energy Limited's business operations in the United Arab Emirates, specifically within Dubai's Multi Commodities Centre Zone. Additionally, the subsidiary aims to facilitate strategic partnerships with metals and minerals developers from the United States of America.

Financial Structure and Investment

The acquisition involves a cash consideration of AED 50,000, which will be paid by Lloyds Global Resources FZCO for subscribing to 100% equity stake in Virtus Lloyds Resources FZCO. As a newly incorporated entity, Virtus has not yet commenced business operations and financial statements are not available.

Regulatory Compliance

The incorporation does not require any governmental or regulatory approvals beyond the standard incorporation procedures. The transaction does not fall under related party transactions involving promoters or promoter groups, as confirmed in the company's disclosure. The establishment aligns with the company's expansion strategy in the metals and mining sector without deviating from its core business activities.

Strategic Implications

The Dubai-based subsidiary positions Lloyds Metals and Energy Limited to leverage the strategic location of the Dubai Multi Commodities Centre Zone for international trade and investment activities. The entity's focus on establishing partnerships with US-based metals and minerals developers indicates the company's intent to expand its global footprint and access new markets in the metals and mining industry.