Lloyds Metals and Energy Limited announced the approval for allotting 1,76,20,550 new equity shares following the conversion of Preferentially Issued Convertible Warrants by Non-Promoters. The shares are allotted at an issue price of Rs. 740 per share, comprising a face value of Re. 1 and a premium of Rs. 739. This action results in a direct increase in the company’s total issued capital to 56,27,85,088 shares.
Outcome of Board Meeting: Warrant Conversion and Allotment
The Board of Directors of Lloyds Metals and Energy Limited, in its meeting held on Friday, 13th March, 2026, approved the allotment of new equity shares consequent to the exercise and conversion of warrants.
This action follows the initial allotment of 3,67,95,000 convertible warrants to Promoters and Non-Promoters, which occurred on 18th September, 2024 and 25th September, 2024.
Details of Warrant Conversion
A total of 1,76,20,550 warrants held by Non-Promoter warrant holders were exercised for conversion into an equal number of equity shares. The subscription amount received for this conversion (representing the balance 65% of the issue price) totaled Rs. 847,54,84,550 (Rupees Eight Hundred and Forty-seven Crore Fifty-Four Lakh Eighty-Four Thousand Five Hundred and Fifty Only).
The shares were issued at a total price of Rs. 740 per share, which comprises:
- Face Value: Rs. 1 (Rupee One)
- Securities Premium: Rs. 739 (Rupees Seven Hundred and Thirty-Nine)
The conversion price paid at the time of the initial allotment was Rs. 259 per warrant (35% of the issue price).
Impact on Share Capital
The allotment increases the total number of equity shares of the Company. The capital structure post-allotment is detailed as follows:
Issued Capital: Increased from 54,51,64,538 shares to 56,27,85,088 shares (Face Value of Rs. 1 each).
The newly allotted equity shares will rank pari passu with the existing shares, carrying identical rights regarding dividends and voting.
Acquisition of Stake in Cayman Islands Entity
The Board also approved a strategic investment through its wholly-owned subsidiary, Lloyds Global Resources FZCO (“LGRF”).
LGRF plans to acquire up to 49% equity stake in Virtus Lloyds Minerals Holding (“VLMH”), an entity incorporated in the Cayman Islands on 24th February, 2026.
The acquisition supports the company’s expansion into the Metals and Mining industry, specifically targeting copper and cobalt assets in the DR Congo. The aggregate consideration for the stake acquisition is up to USD 1 million (United States Dollars One Million).
The acquisition is expected to be completed by the end of April, 2026.
The Board Meeting commenced at 03:13 P.M. (IST) and concluded at 03:55 P.M. (IST) on the date of the announcement.
Source: BSE
