Lloyds Engineering Works Limited has raised ₹987.26 crore by way of a Rights Issue.
Rajani Associates has acted as sole Legal Counsel to Lloyds Engineering Works and the Lead Manager, Mark Corporate Advisors Private Limited, on this rights issue.
The transaction team was led by Sangeeta Lakhi (Senior Partner), with assistance from Deepansh Jain (Associate).
The Firm had also advised Lloyds Engineering on their rights issue in 2024.
The issue was carried out by offering 30.85 crore partly-paid equity shares at ₹32 per share. Shareholders paid ₹16 per share at the time of application, with the remaining ₹16 to be collected through one or more calls by March 31, 2026. The issue, in the ratio of 9 rights shares for every 34 held, opened on May 15 and closed on May 30, 2025, with the record date fixed as April 28. All shares were subscribed, raising the entire ₹987 crore in the first tranche.
The company intends to utilise the proceeds for infrastructure upgrades at its Thane and Murbad facilities, acquiring and refurbishing assets of Bhilai Engineering Corporation, infusing equity into Techno Industries, meeting working capital needs, and funding general corporate purposes including potential acquisitions. The successful issue is expected to strengthen Lloyds Engineering’s balance sheet and support its ongoing expansion plans.
Lloyds Engineering Works Limited is a process plant equipment manufacturing company. It provides engineering and infrastructure solutions, including design, fabrication and installation of heavy equipment for sectors such as oil & gas, steel, power, marine, and nuclear.
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