Lloyds Metals and Energy Limited released a monitoring agency report for the quarter ended December 31, 2025. The report, issued by India Ratings & Research, indicates no deviations from the stated objectives for proceeds raised through Qualified Institutional Placement (QIP) and Preferential Issues. It covers the utilization of funds and compliance with SEBI regulations, confirming adherence to disclosed plans.
Monitoring Agency Findings
India Ratings & Research Private Limited, the monitoring agency, stated in its report dated February 3, 2026, that Lloyds Metals and Energy Limited has not deviated from the objects of its Qualified Institutional Placement (QIP) and Preferential Issues. The report is in compliance with Regulation 32(6) of SEBI regulations.
Preferential Issue Details
As of December 31, 2025, a monitoring agency report concerning preferential issues indicated that the proceeds were utilized as intended. This includes the issuance of 19,57,458 Equity Shares at a price of ₹1460.50 each for consideration other than cash. As of February 3, 2026, the projects, including the Thriveni Pellets Private Limited (TPPL) acquisition, have stayed consistent with set objectives.
Qualified Institutional Placement (QIP) Review
The monitoring agency confirmed that the QIP proceeds were managed in accordance with regulatory guidelines. A total of 1,75,00,000 Equity Shares were issued at ₹696.00 per share. The report highlights various investment instruments and their earnings, including fixed deposits and balances in ICICI Bank accounts. The proceeds will be utilized by February 28, 2026.
Convertible Warrants Update
As of December 31, 2025, Lloyds Metals issued 3,67,95,000 convertible warrants, each at ₹740.00. The funds are allocated to expansion projects, including the DRI Plant and pellet plant upgrades. The cost of projects remains in line with estimates. Further, the original estimates worth INR 2095 Crores have grown to INR 2431 Crores. There has been some reallocation due to lower subscriptions, but the agency has declared the company to be generally compliant.
Source: BSE
