Lloyds Engineering Acquires 51.13% Stake in SISCOL for ~₹626 Crore

Lloyds Engineering Works Limited has acquired a controlling 51.13% stake in Steel Infra Solutions Company Limited (SISCOL) for a total consideration of ~₹626.40 crore, making SISCOL its subsidiary effective August 17, 2026. Key Deal Highlights: Funding Structure: The acquisition is funded through a mix of cash (~₹127.34 crore) and a preferential share swap. To execute the swap, Lloyds issued 7.00 crore equity shares at ₹71.25 per share to SISCOL’s shareholders (valued at ~₹499.05 crore), substantially increasing its paid-up capital. Target Profile: SISCOL is a strong performer, reporting FY26 revenues of ₹816.87 crore and a net profit of ₹43.42 crore. It specializes in heavy steel fabrication and infrastructure solutions. Strategic Rationale & Outlook: Platform Diversification: The deal builds a multi-disciplinary engineering platform, creating operating synergies through consolidated procurement, shared engineering resources, and optimized manufacturing. Larger EPC Bids: The combined capabilities will allow the entity to bid for larger, integrated turnkey projects. Future Listing: Lloyds plans to explore an independent listing for SISCOL within 30 months to facilitate price discovery and unlock shareholder value.