Lloyds Metals has released its monitoring agency report for the quarter ended September 30, 2025. The report covers the utilization of proceeds from its Qualified Institutional Placement (QIP) and Preferential Issue. According to India Ratings, the monitoring agency, there have been no deviations from the stated objects of the issues. The report also details progress on key projects and deployment of unutilized funds.
QIP and Preferential Issue Update
Lloyds Metals and Energy Limited has announced the availability of the Monitoring Agency Report concerning the proceeds from the Qualified Institutional Placement (QIP) and Preferential Issue. The report, issued by India Ratings & Research Private Limited, provides insights into the allocation and utilization of funds up to September 30, 2025.
Key Highlights from the Report
The monitoring agency, India Ratings, stated that there were no deviations from the intended objects of the QIP and Preferential Issue. The report was reviewed by the Audit Committee and subsequently taken on record by the Board of Directors on November 12, 2025.
Project Progress and Fund Utilization
The proceeds are primarily designated for the setup of a 4 MTPA pellet plant at Konsari, Maharashtra. As of the reporting period, a total of ₹895.75 Crores have been utilized towards this project, with an additional ₹285.55 Crores allocated to general corporate purposes. A smaller amount of ₹15.91 Crores was utilized for issue-related expenses.
Deployment of Unutilized Funds
The report also provides details on the deployment of unutilized funds, which amount to ₹25.38 Crores. These funds have been strategically invested in instruments such as Inter Corporate Deposits (ICD) and Fixed Deposits (FD) to generate returns while awaiting deployment for the intended purposes.
Progress of DRI Plant Expansion and Pellet Plant
Capital expenditure for the expansion of the DRI Plant and power plant at Ghugus has seen utilized amount of ₹356.60 Crores up to this quarter. This capital expenditure also included setup of 1×4 MTPA pellet plant at Konsari for utilized amount of ₹427.66 Crores.
Additional Details
The company commissioned the project’s 4 MTPA pellet plant at Konsari, Maharashtra. Lloyds Metals expects unutilized issue proceeds to be utilized by December 31, 2025. However, latest expected completion date for DRI plant is before 30th November 2025 as mentioned in the notice to shareholders for EGM.
Source: BSE
