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Lloyds Metals & Energy has restructured its subsidiary, Lloyds Surya Private Limited (LSPL). LSPL, previously a wholly-owned unit, has become a step-down subsidiary after allotting 56.6 crore new equity shares via private placement to another group subsidiary, Thriveni Earth Movers. This transaction raised Rs 60 Cr for LSPL. Consequently, Lloyds Metals' direct holding in LSPL diluted to 0.18%. LSPL reported nil income and a negative net worth of Rs 0.19 Cr as of March 2025, suggesting the change has minimal direct financial impact on the parent's top-line.