Rajesh Rajnarayan Gupta, a promoter of Lloyds Metals and Energy Limited (LMEL), has submitted a disclosure regarding a Non-Disposal Undertaking (NDU). This NDU, dated August 25, 2026, was entered into with SBICAP Trustee Company Limited as part of a Rupee Term Loan Facility for LMEL. The undertaking covers 602,820 equity shares, representing 0.11% of LMEL’s equity, and imposes contractual restrictions on their disposal without impacting legal ownership or voting rights.
Promoter Disclosure on Share Encumbrance
Rajesh Rajnarayan Gupta, a key promoter of Lloyds Metals and Energy Limited (LMEL), has formally notified the stock exchanges about a Non-Disposal Undertaking (NDU). This disclosure is made in accordance with Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The NDU was executed on August 25, 2026, with SBICAP Trustee Company Limited, acting as the Security Trustee.
Details of the Non-Disposal Undertaking
The NDU is a component of the financing arrangements for a Rupee Term Loan Facility availed by LMEL. It specifically pertains to 602,820 equity shares of LMEL held by Mr. Gupta, which constitutes 0.11% of the company’s total equity. The undertaking places contractual restrictions on the disposal of these shares for the applicable period, as stipulated in the financing documents. It is clarified that this NDU does not involve the creation of a pledge over the shares; Mr. Gupta retains legal and beneficial ownership, along with voting rights and entitlement to dividends, subject to the NDU’s terms.
No Transfer of Shares
The announcement also emphasizes that there has been no transfer of these shares to any third-party demat account as a result of the NDU. The shares remain held in Mr. Gupta’s demat account, subject to the restrictions imposed by the NDU and associated financing arrangements. This information has been duly taken on record by the respective stock exchanges.
Source: BSE
