Lloyds Metals subsidiary becomes step-down unit after dilution

Lloyds Metals and Energy Limited announced that Lloyds Surya Private Limited has become a step-down subsidiary after its shareholding was diluted to 0.18%.

The change follows LSPL's allotment of 566 million equity shares at INR 1.06 per share, totaling INR 600 million, to Thriveni Earth Movers and Infra Private Limited via private placement.

LSPL contributed nil income in the last financial year and had a negative net worth of INR 18.92 lakhs.