Lloyds Steel Subscribes 5,85,000 Shares in Loka Metals through Right Issue
A subsidiary of KS Smart Technologies Ltd has subscribed to equity shares in Loka Metals Private Limited following a right issue by the target company to its existing shareholders. The subscription involves investing a cash consideration of Rs. 58,50,000/- for 5,85,000 fully paid-up equity shares.The transaction involves Lloyds Steel Private Limited (formerly Lloyds Logistics Private Limited), which successfully subscribed to the shares of Loka Metals Private Limited. The subscription was carried out against a cash consideration totaling Rs. 58,50,000/-, with the purchase price set at the par value of Rs. 10/- per share.
The acquisition marks a move towards the marketing strategy of wire rods for the parent entity. There is no change in Lloyds Steel's percentage shareholding or control over Loka Metals as the shares were allotted on a right issue basis to existing shareholders in proportion to their current holdings.
Loka Metals Private Limited, located in Telangana, Hyderabad, was incorporated on September 2, 2025. The company operates within the steel processing and trading industry, focusing on iron and steel industry and cut and bend services. Loka Metals is currently establishing a steel distribution facility and a cut and bend plant.
Key details regarding the investment and target entity are summarized below:
| Particulars | Details |
|---|---|
| Target Entity | Loka Metals Private Limited (Telangana, Hyderabad) |
| Industry | Steel processing, trading in iron and steel industry and cut and bend |
| Date of Incorporation | September 2, 2025 |
| Transaction Type | Subscription to equity shares via right issue |
| Shares Subscribed | 5,85,000 |
| Total Consideration | Rs. 58,50,000/- (at par value of Rs. 10/- per share) |
| Acquisition Impact | Supporting the marketing strategy for wire rods |
Stock Price Movement
At the close of trade, shares of KS Smart Technologies Ltd settled at ₹155.40, ticking up a solid 5.00%. The stock saw movement throughout the day, trading between an intraday low of ₹148.00 and a high marked at ₹155.40.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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