Lloyds Enterprises to demerge real estate business into new listed entity

Lloyds Enterprises Limited (LEL) announced a strategic restructuring plan to unlock shareholder value in its real estate business, effective December 22, 2025. This involves the amalgamation of Lloyds Realty Developers Limited (LRDL) and Indrajit Properties Private Limited (IPPL) into LEL. This will be followed by the demerger of the consolidated real estate business into a newly formed and independently listed entity, Lloyds Realty Limited (LRL). This move aims to provide LEL shareholders with direct exposure to India's thriving real estate sector.

The restructuring will enable LRL to enter a new growth phase with a significant development pipeline in the Mumbai Metropolitan Region (MMR), projecting a revenue potential exceeding INR 7000 cr. Key projects include a 1.10 million sq. ft. redevelopment in Goregaon West, a 155,000 sq. ft. premium commercial project in Bandra SRA, and a 650,000 sq. ft. mixed-use development in Thane - Ghodbunder. The plan also includes industrial, data, and logistics parks over 100 acres near Taloja MIDC, and a 167-acre land bank in Khopoli with over 13 million sq. ft. of developable potential.

Shareholders of LRDL will receive 43 equity shares of LEL (Face Value ₹1 each) for every 350 equity shares held in LRDL (Face Value ₹1 each). Following the demerger, LEL shareholders will receive 1 equity share of Lloyds Realty Ltd. (face value: Rs.1) for every 2 equity shares held in LEL. This mirror-image shareholding structure ensures proportionate stake for all LEL shareholders in the new entity, enhancing transparency and eliminating conglomerate discount. The transaction is a related party transaction, with valuation conducted by Bansi S. Mehta Valuers LLP and a fairness opinion from Sundae Capital Advisors Private Limited.