SBICAP Trustee Company Limited has announced the creation of a Non-Disposal Undertaking (NDU) over a substantial number of shares in Lloyds Metals & Energy Limited. This undertaking has been established in favour of SBICAP Trustee as the Security Trustee, for the benefit of the lenders to Lloyds Metals & Energy Limited. The NDU covers approximately 18.09% of the total diluted share capital, amounting to 10,18,02,932 shares.
SBICAP Trustee Secures Security Interest
SBICAP Trustee Company Limited has formally disclosed the creation of a Non-Disposal Undertaking (NDU) related to the shares of Lloyds Metals & Energy Limited. This crucial financial arrangement was established on September 4, 2026.
Details of the Non-Disposal Undertaking
The NDU has been created in favour of SBICAP Trustee Company Limited, acting in its capacity as the Security Trustee. This security mechanism is in place for the ultimate benefit of the lenders to Lloyds Metals & Energy Limited. The undertaking restricts the disposal of a specific block of shares, thereby providing a form of collateral.
Prior to this undertaking, the acquirer (SBICAP Trustee) held 14,80,89,232 shares, representing 26.30% of the total voting capital. Following the implementation of the NDU, the total number of shares held remains the same in terms of direct ownership. However, the NDU impacts the disposability of 10,18,02,932 shares, which represent 18.09% of the total diluted share capital. The total shareholding post-transaction remains 24,98,92,164 shares, constituting 44.39% of the total equity.
Purpose and Scope
The undertaking was established by various entities including Mukesh Rajnarayan Gupta, Shreekrishna Mukesh Gupta, and others, collectively referred to as “NDU Providers”. The purpose is to secure the financial interests of the lenders to Lloyds Metals & Energy Limited. The total equity share capital of the Target Company (Lloyds Metals & Energy Ltd) is 56,29,06,951 equity shares of Rs. 1/- each, as per the latest shareholding patterns.
Source: BSE
