Lloyds Metals: QIP and preferential issue funds utilized as planned

Lloyds Metals and Energy Limited announced on November 12, 2025, that its Qualified Institutional Placement (QIP) and Preferential Issue proceeds for the quarter ended September 30, 2025, show no deviation from stated objects. The monitoring agency, India Ratings and Research Private Limited, confirmed this in its report, which was reviewed and taken on record by the company's audit committee and board of directors.

For the QIP, the issue size was INR 1,218.00 Crores. The primary object was setting up a 4 MTPA pellet plant at Konsari, Maharashtra, with an original cost of INR 916.13 Crores. As of September 30, 2025, INR 895.75 Crores had been utilized for this purpose, with a total of INR 1,197.21 Crores utilized across all objects, leaving INR 20.79 Crores unutilized.

Regarding the Preferential Issue, the total issue size was INR 2,960.00 Crores, with INR 1,102.10 Crores received as of September 30, 2025. This issue aimed to fund capital expenditure for expanding the DRI Plant and power plant at Ghugus (original cost INR 777.00 Crores) and an additional 1 X 4 MTPA pellet plant at Konsari (original cost INR 1,443.00 Crores). Total utilization for the quarter amounted to INR 1,010.49 Crores, with INR 91.61 Crores remaining unutilized. The company noted a delay in implementation for the DRI plant expansion but stated it was partially commissioned as of September 30, 2025.