Shreekrishna Mukesh Gupta, promoter of Lloyds Metals and Energy Limited (LMEL), has entered into a Non-Disposal Undertaking (NDU) covering 16.00% of his equity shares. This encumbrance is part of financing arrangements for a Rupee Term Loan Facility availed by LMEL. The shares remain under his beneficial ownership and voting control, with the NDU creating contractual restrictions on disposal during the loan period.
Promoter’s Shareholding Encumbered for Financing
Shreekrishna Mukesh Gupta, a key promoter of Lloyds Metals and Energy Limited (LMEL), has disclosed the creation of a Non-Disposal Undertaking (NDU) impacting a substantial portion of his shareholding. This undertaking, dated August 25, 2026, was executed with SBICAP Trustee Company Limited, acting as the Security Trustee.
The NDU forms part of the financing arrangements for a Rupee Term Loan Facility obtained by LMEL. Specifically, Mr. Gupta has encumbered 90,086,636 equity shares, representing 16.00% of his total holding in LMEL. This action was formally reported on September 8, 2026, to the BSE Limited and the National Stock Exchange of India Limited.
Key Terms of the Undertaking
It is clarified that the NDU does not constitute a pledge of shares. Mr. Gupta retains full legal and beneficial ownership, along with the associated voting rights and entitlement to dividends. The encumbrance primarily imposes contractual restrictions on the disposal of these shares for the duration of the loan facility and in accordance with the terms of the financing documents.
The shares subject to the NDU continue to be held in Mr. Gupta’s demat account, with no transfer to any third-party account having occurred. The undertaking is considered a customary arrangement within such financing transactions. The disclosure provides details for each promoter and their respective share encumbrances, as required by SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Source: BSE
