Lloyds Metals and Energy Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026, prepared by ACER Credit Rating Private Limited. The report confirms that the utilization of proceeds from the preferential issue of warrants is in line with the objects stated in the offer document. There were no deviations from the stated objects, and the monitoring agency found no material facts to highlight beyond the scope of the objects monitored.
Monitoring Agency Report for Q3 2026
Lloyds Metals and Energy Limited has officially submitted its Monitoring Agency Report for the financial quarter ending September 30, 2026. This report, prepared by ACER Credit Rating Private Limited, addresses the utilization of funds raised through a preferential issue of warrants.
Key Findings: No Deviations
The monitoring agency’s review confirms that the proceeds from the issue have been utilized in accordance with the objects disclosed in the offer document. Specifically, the report states: “No deviation from stated objects.” The agency also indicated that there were no material facts requiring highlighting beyond the established monitoring parameters.
Scope of Monitoring
The report, generated as per SEBI regulations, covers the utilization of proceeds from the preferential issue. ACER Credit Rating Private Limited, acting as the Monitoring Agency, has reviewed the information provided by the issuer and other relevant sources to provide an objective view of the fund utilization. The agency’s declaration emphasizes that the report provides a true and fair view of the utilization of issue proceeds.
Details of the Issue
The preferential issue involved 4,00,00,000 Convertible Warrants, each convertible into one equity share of face value Rs. 1/-, at an issue price of Rs. 740.00. The total issue size was Rs. 2,960.00 crores, with 3,67,95,000 warrants subscribed, amounting to Rs. 2,722.83 crores as of September 30, 2026.
Objects of the Issue
The primary objects for which the funds were raised include:
- Funding capital expenditure for increasing the capacity of the existing sponge iron manufacturing plant and power plant at Ghugus, Chandrapur.
- Funding capital expenditure for setting up of a 1 X 4 MTPA Pellet Plant at Konsari, Gadhchiroli.
- General Corporate Purpose.
The report indicates that the utilization of funds for these objects is proceeding as planned, with specific details on expenditure and progress provided within the full report.
Source: BSE
