Lloyds Metals & Energy has successfully completed its strategic acquisition in the Democratic Republic of Congo, with its wholly-owned subsidiary executing the final agreement for a significant mining deal. The company announced the completion of the Sale of Shares and Claims Agreement on January 16, 2026, marking a major milestone in its international expansion strategy.

Transaction Completion and Updated Terms

Lloyds Global Resources FZCO (LGRF), the company's wholly-owned subsidiary, has completed the execution of the Sale of Shares and Claims Agreement to acquire a 50% equity stake in Nexus Holdco FZCO. The transaction details have been updated from the initial board approval:

Strategic Mining Assets in Democratic Republic of Congo

The acquisition provides Lloyds Metals with significant exposure to copper mining operations in the Democratic Republic of Congo. Nexus Holdco FZCO serves as a holding company with substantial mining assets, holding approximately 80-90% equity stake in Surya Mines SARL and eight other companies incorporated in the Democratic Republic of Congo.

These subsidiary companies collectively control various copper mining concessions and operate a copper processing plant, positioning Lloyds Metals for expansion into the growing commodity segment in the Congo region. The strategic acquisition aligns with the company's mineral exploration and processing capabilities enhancement objectives.

Agreement Structure and Parties

The Sale of Shares and Claims Agreement was executed between multiple parties, creating a comprehensive ownership structure:

Ongoing Tata Steel Partnership Framework

Alongside the completed Congo acquisition, Lloyds Metals continues to pursue its comprehensive partnership with Tata Steel Limited through a non-binding Memorandum of Understanding. This strategic collaboration examines cooperation in raw material mining, logistics, pellets production, steel making, and greenfield projects, with specific focus on opportunities in Gadchiroli district of Maharashtra.

The dual-pronged strategy demonstrates Lloyds Metals' commitment to expanding its mineral exploration and processing capabilities while strengthening partnerships with established industry players. The completed USD 90.80 million investment in Congo mining operations, combined with the ongoing Tata Steel collaboration framework, positions the company for enhanced market presence in the competitive metals sector and significant expansion of existing business operations in mineral exploration and processing.

Sky United LLP, a promoter entity of Lloyds Metals and Energy Limited , has disclosed substantial acquisition of equity shares following the conversion of convertible warrants on December 31, 2025. The disclosure was made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Warrant Conversion Details

Sky United LLP converted 74,99,998 convertible warrants into equity shares at an issue price of ₹740 per share, comprising face value of ₹1 and premium of ₹739 per warrant. The conversion was part of the preferential allotment approved by the company's board on December 31, 2025.

Shareholding Pattern Changes

Following the warrant conversion, Sky United LLP's shareholding in Lloyds Metals has increased significantly. The entity's voting rights percentage has risen from 12.47% to 13.49% of the total share capital.

Capital Structure Impact

The warrant conversion has resulted in changes to Lloyds Metals' capital structure. The company's equity share capital increased following the allotment of shares to various warrant holders.

Regulatory Compliance

Sky United LLP filed the disclosure on January 2, 2026, with BSE Limited and National Stock Exchange of India Limited, where Lloyds Metals shares are listed. The disclosure was signed by Hemankur Upadhyaya, Designated Partner of Sky United LLP.

The company had originally allotted 3,67,95,000 convertible warrants to promoters and non-promoter groups, out of which 1,52,68,950 warrants were exercised by warrant holders as of December 31, 2025. Sky United LLP's conversion represents the largest single conversion among all warrant holders.