Abha Gupta, a promoter of Lloyds Metals and Energy Limited (LMEL), has disclosed the creation of a Non-Disposal Undertaking (NDU) for 11,69,540 equity shares, representing 0.21% of the company’s total share capital. This NDU, dated August 25, 2026, is part of financing arrangements for a Rupee Term Loan Facility availed by LMEL. The shares remain under Abha Gupta’s beneficial ownership and voting rights are retained, but disposal is contractually restricted.
Promoter Disclosure of Non-Disposal Undertaking
Abha Gupta, identified as a promoter of Lloyds Metals and Energy Limited (LMEL), has formally notified the stock exchanges about the creation of 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.
Details of the Non-Disposal Undertaking
The NDU, dated August 25, 2026, has been entered into with SBICAP Trustee Company Limited, acting as the Security Trustee. This undertaking is connected to a Rupee Term Loan Facility that LMEL has availed. The disclosure confirms that 11,69,540 equity shares of LMEL, held by Abha Gupta, are subject to this NDU. This represents 0.21% of the total equity share capital of the company.
Impact on Shareholding and Rights
Abha Gupta clarified that the NDU is a customary arrangement within financing transactions and subjects the specified shares to contractual restrictions on disposal during the applicable period. Importantly, the legal and beneficial ownership of these shares continues to reside with Abha Gupta. Furthermore, the voting rights attached to these shares remain exercisable by her, subject to the terms of the NDU and the financing documents. Dividends and other economic benefits arising from these shares also continue to accrue to her, in accordance with applicable law and the financing agreements.
The disclosure also emphasizes that there has been no transfer of these shares to any third-party demat account. The shares remain in Abha Gupta’s demat account, subject to the restrictions imposed by the NDU and the related financing arrangements.
Broader Promoter Encumbrances
Accompanying the formal letter are detailed disclosures from various promoters and their associated PACs (Persons Acting in Concert) regarding the creation of similar Non-Disposal Undertakings. These undertakings involve a significant number of shares across several promoters, including:
- Ravi Babulal Agarwal: 11,907,240 shares (2.12%) encumbered on 04.09.2026.
- Mukesh Rajnarayan Gupta: 1,135,700 shares (0.20%) encumbered on 04.09.2026.
- Renu Rajesh Gupta: 1,204,420 shares (0.21%) encumbered on 04.09.2026.
- Abha Gupta: 1,169,540 shares (0.21%) encumbered on 04.09.2026.
- Rajesh Rajnarayan Gupta: 602,820 shares (0.11%) encumbered on 04.09.2026.
- Madhur Rajesh Gupta: 9,000,000 shares (1.60%) encumbered on 04.09.2026.
- Priyanka Rajesh Gupta Shreekrishna Mukesh Gupta: 9,000,000 shares (1.60%) encumbered on 04.09.2026.
- Thriveni Earthmovers Private Limited: 9,506,6998 shares (16.88%) encumbered on 04.09.2026.
- Crosslink Food and Farms Private Limited: 5,080,409 shares (0.90%) encumbered on 04.09.2026.
- Lloyds Metals & Minerals Trading LLP: 20,000,000 shares (3.55%) encumbered on 04.09.2026.
In all these instances, the reason cited for the encumbrance is the ‘Requirement of Financing Document for Term Loan availed by Lloyds Metals and Energy Limited’, with SBICAP Trustee Company Limited as the entity in whose favor the shares are encumbered. These undertakings are effective from September 2026.
Source: BSE
