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Lloyds Engineering Works Ltd on Thursday announced the acquisition of an 88.12% stake in Steel Infra Solutions Company Ltd (SISCOL) in a transaction valued at approximately ₹1,073 crore, marking one of the largest deals in the engineering and infrastructure space this year.
The acquisition will be carried out through a combination of cash and share swap. Lloyds Engineering itself will acquire a 52.16% stake in SISCOL for about ₹635.4 crore, comprising cash consideration of ₹131.8 crore and a share-swap component worth ₹503.6 crore. The remaining stake will be acquired by Lloyds Enterprises Ltd and Streamland Estate LLP through cash payments of ₹219 crore each.
To facilitate the share-swap portion of the transaction, Lloyds Engineering's board approved the issuance of up to 7.06 crore equity shares on a preferential basis at ₹71.25 apiece to SISCOL shareholders. The transaction remains subject to shareholder and regulatory approvals, with completion targeted by July 31, 2026.
SISCOL is engaged in heavy steel fabrication and infrastructure solutions, serving customers across the energy, infrastructure and industrial sectors. The company reported revenue of ₹816.9 crore and net profit of ₹43.4 crore in FY26. Its portfolio includes projects such as Delhi Airport Terminal 1, Noida International Airport, the Dwarka Convention Centre and the International Hockey Stadium in Rourkela.
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Lloyds Engineering said the acquisition would expand its engineering and fabrication capabilities, create operating synergies and strengthen its ability to bid for larger turnkey and EPC projects. The company also said it intends to pursue a future listing of SISCOL within 30 months of the transaction's completion.
Prime Securities acted as an adviser on the transaction. Following the announcement, shares of Lloyds Engineering Works were trading at ₹83.89 on the NSE at 3:21 PM, down 4.33% for the day.
The acquisition will be carried out through a combination of cash and share swap. Lloyds Engineering itself will acquire a 52.16% stake in SISCOL for about ₹635.4 crore, comprising cash consideration of ₹131.8 crore and a share-swap component worth ₹503.6 crore. The remaining stake will be acquired by Lloyds Enterprises Ltd and Streamland Estate LLP through cash payments of ₹219 crore each.
To facilitate the share-swap portion of the transaction, Lloyds Engineering's board approved the issuance of up to 7.06 crore equity shares on a preferential basis at ₹71.25 apiece to SISCOL shareholders. The transaction remains subject to shareholder and regulatory approvals, with completion targeted by July 31, 2026.
SISCOL is engaged in heavy steel fabrication and infrastructure solutions, serving customers across the energy, infrastructure and industrial sectors. The company reported revenue of ₹816.9 crore and net profit of ₹43.4 crore in FY26. Its portfolio includes projects such as Delhi Airport Terminal 1, Noida International Airport, the Dwarka Convention Centre and the International Hockey Stadium in Rourkela.
Also Read: Brigade Enterprises shares slip after EC revoked for ₹2,100 crore Chennai project
Lloyds Engineering said the acquisition would expand its engineering and fabrication capabilities, create operating synergies and strengthen its ability to bid for larger turnkey and EPC projects. The company also said it intends to pursue a future listing of SISCOL within 30 months of the transaction's completion.
Prime Securities acted as an adviser on the transaction. Following the announcement, shares of Lloyds Engineering Works were trading at ₹83.89 on the NSE at 3:21 PM, down 4.33% for the day.
