Lloyds Metals And Energy Limited — Board Meeting, 18-12-2024: Outcome of Board Meeting

The Board of Directors of Lloyds Metals and Energy Limited has approved the acquisition of 79.82% equity shares in Thriveni Earthmovers and Infra Private Limited for ₹70 Crore. This acquisition includes entering contracts for guarantees totaling ₹2,500 Crore concerning financial support tied to the promoters of Thriveni. The company will also guarantee financial assistance to Lloyds Surya Private Limited, not exceeding ₹1,000 Crore. Additionally, it has approved investments in renewable energy through two Special Purpose Vehicles, aiming for 100 MW solar power for captive consumption. The board has established an Employee Stock Option Scheme, providing for 2 Crore options, and appointed Mr. Shabbirhusein Khandwawala as an Independent Director.