Lloyds Metals has approved the allotment of 5,87,818 equity shares under its Employee Stock Option Plan 2017 at ₹4 per share. Additionally, the conversion of 1,52,68,950 convertible warrants into equity shares was approved, raising ₹734.44 million. This conversion increases the company’s issued and paid-up capital to ₹544.36 million.
ESOP Allotment Approved
The Board approved the allotment of 5,87,818 equity shares to the Lloyds Employees Welfare Trust under the Employee Stock Option Plan 2017. These shares, priced at ₹4 each (including a premium of ₹3), will rank equally with existing shares.
Conversion of Convertible Warrants
The Board also approved the allotment of 1,52,68,950 equity shares upon the conversion of preferentially issued convertible warrants to Promoters and Non-Promoters. This follows the earlier allotment of 3,67,95,000 convertible warrants. The conversion was executed at ₹481 per warrant, representing the balance subscription amount.
Details of Warrant Conversion
Several entities participated in the warrant conversion:
- Lloyds Enterprises Limited (Promoter): 75,00,002 shares
- Sky United LLP (Promoter): 74,99,998 shares
- Elysian Wealth Fund: 1,03,950 shares
The total amount received from this conversion is ₹734.44 million.
Impact on Capital Structure
Following the allotment and conversion, the company’s issued and paid-up capital has increased to ₹544.36 million, comprising 54,43,59,038 equity shares.
Employee Stock Options Granted
The Board has granted 1,60,000 employee stock options under the “Lloyds Metals and Energy Employee Stock Option Scheme – 2024”. The exercise price for each option is set at Rs. 4.
Source: BSE
