Thriveni Earthmovers Private Limited (TEMPL), a promoter of Lloyds Metals and Energy Limited (TC), has officially reported the release of a significant pledge on 64,28,883 equity shares. This release, effective from March 6, 2026, was executed following the conversion of Optionally Fully Convertible Debentures (OFCDs) as per an agreement dated February 7, 2024. The disclosure was made to stock exchanges on March 7, 2026, detailing changes to the promoter group’s shareholding structure.
Promoter Disclosure on Share Encumbrance Release
Thriveni Earthmovers Private Limited (“TEMPL”), identified as a promoter of Lloyds Metals and Energy Limited (“Target Company” or “TC”), has formally submitted a disclosure regarding the release of pledged equity shares to the stock exchanges on March 7, 2026. This filing adheres to the requirements of Regulation 31 (1) and 31 (2) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.
Details of Pledge Release Event
The core event detailed is the release of the pledge created over 64,28,883 equity shares of the Target Company. This release took effect on March 6, 2026. The action was a direct consequence of the conversion of Optionally Fully Convertible Debentures, pursuant to Clause 3.3.1 and 3.3.5 of the Unattested Share Pledge Agreement executed between TEMPL and Catalyst Trusteeship Limited on February 7, 2024.
Impact on TEMPL Shareholding
Prior to this release, TEMPL held 10,00,05,501 shares, representing 18.34% of the total share capital. The released shares constituted 1.18% of the total capital. Post-event, the total holding of encumbered shares for TEMPL is reduced by the released amount. The filing confirms that the pledge was released in favor of Catalyst Trusteeship Limited (as Debenture Trustee) and the associated lenders, including Kemwell Biopharma Private Limited, Kemfin Services Private Limited, and Anand Jaikumar Jain (Trustee of KJ Trust).
Status of Other Promoters
The disclosure also provided the current shareholding status for other members of the promoter group, all showing no change in their already encumbered or unencumbered positions as of the reporting date. Notable holdings maintained include:
- Ravi Babulal Agarwal: Holding 1,19,07,240 shares (2.18%), with Nil encumbrance.
- Lloyds Enterprises Limited: Holding 2,32,38,340 shares (4.26%), with Nil encumbrance.
- Crosslink Food and Farms Private Limited: Holding 6,55,58,548 shares (12.03%), with an existing encumbrance of 89,65,409 shares (1.64%).
The final post-event holding of TEMPL, after accounting for the 64,28,883 share release from the 1,95,50,493 shares previously pledged, results in a new encumbered balance of 1,31,21,610 shares, equating to 2.41% of the total share capital.
Source: BSE
