Lloyds Advance Defence Systems Stake Reduced Following Private Placement of Shares
Lloyds Engineering Works Limited has announced a change in the equity stake held by its parent company in Lloyds Advance Defence Systems Limited (LADSL). The transaction resulted in LADSL shifting from being a wholly-owned subsidiary to one where the holding company maintains an 85% interest.Initially, LADSL was maintained as a 100% wholly-owned subsidiary of Lloyds Engineering Works Limited. This status changed after LADSL conducted a private placement of shares.
The private placement was undertaken involving the holding company and two other investors. A special resolution approving this placement was passed by LADSL on June 24, 2026. The Board of Directors of LADSL subsequently approved the allotment of these shares on June 29, 2026.
As a result of this share allotment, the stake held by the holding company has been diluted by 15%. This completes the transition, establishing LADSL as a subsidiary with an 85% stake in the Company following the transaction.
LLOYDSENGG Stock Price Movement
LLOYDS ENGINEERING WORKS LIMITED shares closed higher on Monday, rallying to settle at ₹87.11 after gaining 2.76% from the previous close. The stock traded within a range of ₹82.10 to ₹87.92 and saw significant activity with over 14.3 million shares exchanged during the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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