Lloyds Metals to acquire Thriveni Earthmovers stake

Lloyds Metals and Energy Limited (LLOYDSME) is proceeding with its acquisition of a substantial stake in Thriveni Earthmovers and Infra Private Limited (TEIL). The company announced that shareholders approved the acquisition of 700 million equity shares in TEIL, representing 79.82% of TEIL’s total issued, subscribed, and paid-up equity share capital. The company's board had approved the acquisition in December 2024. The acquisition is valued at Rs. 700 million (Rupees Seventy Crore Only). Lloyds Metals has entered into a share subscription agreement with TEIL to formalize the acquisition.