{"url":"https://newsforagent.com/news/2026-11-02/lloyds-engineering-preferential-issue-monitoring-report","markdown_url":"https://newsforagent.com/news/2026-11-02/lloyds-engineering-preferential-issue-monitoring-report.md","title":"Lloyds Engineering Works Files ₹504 Crore Preferential Issue Report","headline":"Lloyds Engineering Works Submits Monitoring Report for ₹504.04 Crore Preferential Allotment","description":"Lloyds Engineering Works filed a monitoring report on its ₹504.04 crore preferential allotment, with ₹499.05 crore used for a 40.74% SISCOL stake via share swap.","section":"Funding","published_at":"2026-11-02T17:15:17+00:00","modified_at":"2026-11-02T17:15:17+00:00","author":"News Desk","key_takeaways":["Lloyds Engineering Works raised ₹504.04 crore through a preferential allotment dated August 17, 2026.","The company utilised ₹499.05 crore of the proceeds to acquire a 40.74% stake in SISCOL through a share swap.","Brickwork Ratings India Private Limited, the monitoring agency, confirmed no deviations from the objects stated in the offer document."],"companies":[{"name":"Lloyds Engineering Works","is_primary":true,"profile_url":"https://akta.pro/company-profiles/003hdss/lloyds-engineering-works","website":"https://www.lloydsengg.in"},{"name":"Steel Infra Solutions Pvt. Ltd. (SISCOL)","is_primary":false,"profile_url":"https://akta.pro/company-profiles/00yjgz9/steel-infra-solutions-pvt-ltd-siscol","website":"https://siscol.in"}],"source":{"publisher":"ScanX","title":"Lloyds Engineering submits monitoring report for ₹504 crore preferential issue","url":"https://scanx.trade/stock-market-news/companies/lloyds-engineering-submits-monitoring-report-504-crore-preferential/55183690"},"other_sources":[],"tags":["Funding","Lloyds Engineering Works","Steel Infra Solutions Pvt. Ltd. (SISCOL)"],"body_markdown":"Lloyds Engineering Works raised ₹504.04 crore through a preferential allotment dated August 17, 2026, and has submitted the monitoring agency report for the quarter ended September 30, 2026. [ScanX](https://scanx.trade/stock-market-news/companies/lloyds-engineering-submits-monitoring-report-504-crore-preferential/55183690) reported the filing on November 2, 2026.\n\n## How the SISCOL Share Swap Was Structured\n\nThe preferential issue combined cash and non-cash consideration, with the primary objective of acquiring a 40.74% stake in [Steel](https://akta.pro/company-profiles/00yjgz9/steel-infra-solutions-pvt-ltd-siscol) Infra Solutions Company Limited (SISCOL). The share swap involved issuing 7,00,42,458 equity shares of [Lloyds Engineering Works](https://akta.pro/company-profiles/003hdss/lloyds-engineering-works) at an issue price of ₹71.25 per share, which facilitated the acquisition of 1,66,35,087 SISCOL equity shares.\n\nThe initial proposal covered a 41.34% stake, revised to 40.74% after Wharton Engineering & Developers Private Limited was excluded from the allotment list. The total value of securities offered was ₹508.55 crore, against a total subscription value of ₹504.04 crore.\n\nBrickwork Ratings India Private Limited, the monitoring agency, confirmed no deviations from the objects stated in the offer document. The entire ₹499.05 crore allocated for the share swap was utilised during the quarter, while the ₹4.99 crore cash component remained unutilised as of September 30, 2026, parked in a dedicated preferential issue account. The company stated that the subscription to fresh equity shares in SISCOL is ongoing.\n\n## SISCOL Deal Figures in Company Records\n\nAccording to akta.pro [company records](https://akta.pro/company-data), the board approved the acquisition of an 88.12% stake in SISCOL for ₹1,073.40 crore via cash and share swap in June 2026, expanding heavy steel fabrication capacity to approximately 1.5 lakh metric tonnes per annum. The same records list expected scale post the SISCOL acquisition at more than 10 manufacturing facilities and 6 engineering and design centres.\n\n## Earlier Steps Toward the SISCOL Deal\n\nOn August 17, 2026, NDTV Profit reported that Lloyds Engineering Works acquired a 51.13% stake in SISCOL for Rs 626.40 crore, making SISCOL a subsidiary from that date. On August 6, 2026, ScanX reported that the board approved a variation in the objects of a rights issue originally outlined in April 2025, subject to shareholder approval via postal ballot, with Rs. 660.52 crore of gross proceeds utilised as of June 30, 2026.\n\nOn September 25, 2026, ScanX reported that shareholders approved all four postal ballot resolutions, including related party transaction limits, the rights issue object variation and an ESOP pool increase.\n\n## Creditors Back Three-Way Merger\n\nOn October 16, 2026, ScanX reported that unsecured creditors approved a scheme merging Lloyds Infrastructure & Construction Limited, Metalfab Hightech Private Limited and Techno Industries Private Limited into Lloyds Engineering Works, with 124 votes cast in favour and none against. The company said the merger remains subject to final approval from the National Company Law Tribunal and other regulatory sanctions.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}