Lloyds Engineering SISCOL Deal: EGM on July 15, 2026

What Lloyds Engineering has announced

Lloyds Engineering Works Limited has approved the acquisition of an 88.12% stake in Steel Infra Solutions Company Limited (SISCOL) for a total consideration of ₹1,073.40 crore. The company disclosed that the transaction is structured as a combination of cash payment and a share swap. The stated objective is to create an integrated engineering and fabrication platform. The matter will go to shareholders at an Extraordinary General Meeting (EGM) scheduled for July 15, 2026.

The approvals and meeting schedule were communicated through stock exchange disclosures. Alongside the acquisition plan, the board also considered and approved fundraising through preferential allotment of equity shares, subject to shareholder and regulatory approvals. The company also disclosed key procedural dates for voting and the conduct of the EGM through video conferencing.

Board approval and the shareholder vote

The board approved the proposal on June 18, 2026. The company has set July 15, 2026 as the date for the EGM to seek shareholder approval for the acquisition and the related share issuances. The meeting will be conducted through Video Conferencing (VC) or Other Audio Visual Means (OAVM) and is scheduled to begin at 11:00 a.m. IST.

For shareholder participation and voting, the company fixed July 8, 2026 as the cut-off date to determine eligibility. Remote e-voting is scheduled to open on July 10, 2026 at 9:00 a.m. and will close on July 14, 2026 at 5:00 p.m. Harshvardhan Tarkas has been appointed as the scrutinizer for the e-voting process.

Deal structure: 88.12% stake, cash plus share swap

The acquisition is for an aggregate 88.12% stake in SISCOL at a total consideration of ₹1,073.40 crore. Lloyds Engineering Works will directly acquire 52.16% for ₹635.40 crore. This portion is described as being funded partly by cash and partly through a share-swap component.

The company has disclosed a split within the 52.16% acquisition value: cash consideration of ₹131.8 crore and a share-swap component of about ₹503.6 crore. The disclosures also state that Lloyds Enterprises Limited (the holding company) and Streamland Estate LLP will acquire the remaining 35.96% for ₹438 crore in cash.

Separately, Lloyds Enterprises Limited has agreed to acquire a 17.98% stake in SISCOL for ₹219 crore, and the overall group holding post-acquisition is indicated to be approximately 88.12%.

Preferential issue for non-cash consideration

As part of the non-cash portion of the transaction, Lloyds Engineering Works will issue 7,06,74,554 equity shares at ₹71.25 per share to the sellers. The company has described this issuance as consideration to SISCOL’s selling shareholders, issued on a preferential basis.

The disclosures also quantify the premium and the implied value: the preferential issue is at a premium of ₹70.25 and totals around ₹503.55 crore. This aligns with the share-swap component described for the acquisition.

Additional fundraising: 7,00,000 shares to non-promoters

Apart from the acquisition-linked share issuance, the board approved raising additional capital through a preferential allotment of 7,00,000 equity shares to non-promoters at ₹71.25 per share. The company disclosed that this cash consideration is expected to raise approximately ₹4.98 crore.

The company has stated that the proposed issuance is subject to the necessary regulatory and statutory approvals, and also requires shareholder consent. Such preferential issuances can change the company’s equity structure, and the disclosures highlight that shareholder approval is required at the EGM.

Other disclosed items: borrowing limits and planned steps

In addition to the acquisition and share issuances, the disclosures note that the company has approved borrowing limits of up to ₹1,000 crore. The disclosures also mention an investment of ₹2.5 crore in LADSL.

The company has also indicated an intention to file a Draft Red Herring Prospectus for SISCOL’s listing within 30 months post-transaction completion. This is framed as a stated next step following closure of the transaction, subject to completion and related processes.

Trading window closure and compliance actions

Lloyds Engineering Works disclosed that the trading window for designated persons and their relatives was closed from June 15, 2026. The restriction is stated to remain in effect until 48 hours after the announcement regarding the board meeting is made available to the public on June 18, 2026.

The company also disclosed a board meeting scheduled for June 18, 2026 to consider the issuance of equity shares on a preferential basis, subject to shareholder and regulatory approvals. These steps align with standard compliance practices around unpublished price sensitive information.

SISCOL’s disclosed financial snapshot

The disclosures include key operating numbers for SISCOL. SISCOL’s FY26 turnover was stated at ₹816.87 crore, and FY26 net profit was stated at ₹43.42 crore. The acquisition is positioned as a strategic step to build an integrated engineering, fabrication, and EPC platform.

The company has also stated a revenue target of over ₹10,000 crore by FY29-30/FY30 in connection with the integrated platform ambition.

Key facts table

Why the announcement matters for investors

The acquisition is structured around both cash payments and equity issuance, which makes shareholder approval central to the deal’s completion. The large preferential allotment linked to the share swap, along with an additional cash raise via preferential issue, means investors will focus on the resulting shareholding pattern and dilution implications once the resolutions are presented and voted on.

The disclosures also place emphasis on process clarity, including the EGM timeline, the e-voting schedule, and the appointment of a scrutinizer. For market participants, these procedural disclosures are relevant because they indicate the timeline for formal approvals and the sequence of corporate actions.

Conclusion

Lloyds Engineering Works has outlined a defined path for completing its 88.12% acquisition of SISCOL, with board approval dated June 18, 2026 and shareholder approval scheduled via an EGM on July 15, 2026. The transaction combines ₹1,073.40 crore of consideration through cash and share swap, backed by a large preferential issue to SISCOL sellers and an additional small preferential issue for cash. The next confirmed milestone is the July 8 cut-off date, followed by remote e-voting from July 10 to July 14, ahead of the EGM vote on July 15, 2026.