Lloyds Steel Subscribes 585,000 Shares of Loka Metals in Right Issue
Lloyds Steel Private Limited, a wholly owned subsidiary of Innomet Advanced Materials Limited, has subscribed to 585,000 fully paid-up equity shares of Loka Metals Private Limited. The subscription was made pursuant to a right issue offered by Loka Metals to its existing shareholders.The total cash consideration for the subscription amounted to Rs. 58,50,000/-. This transaction was completed at the par value of Rs. 10/- per share. According to details provided, there is no change in Lloyds Steel's percentage shareholding in Loka Metals as the shares were allotted on a right issue basis proportionally to existing shareholders.
The acquisition aligns with the marketing strategy for wire rods and introduces the subsidiary into the steel processing industry.
Loka Metals Private Limited, which is located in Telangana, Hyderabad, was incorporated on September 2, 2025. The target entity operates within the steel processing and trading sector, focusing on iron and steel industry, and cut and bend operations. The company is currently setting up a steel distribution facility.
Key details regarding the transaction and the target entity are summarized below:
| Particulars | Details |
|---|---|
| Target Entity | Loka Metals Private Limited (located in Telangana, Hyderabad) |
| Subscription Amount | Rs. 58,50,000/- |
| Number of Shares Acquired | 5,85,000 equity shares |
| Price per Share | Rs. 10/- (at par value) |
| Purpose of Acquisition | Marketing strategy for wire rods |
| Industry | Steel processing and trading in iron and steel industry |
INNOMET Stock Price Movement
Shares of Innomet Advanced Materials Limited today slipped by 2.83% to settle at ₹106.6. The stock saw a traded volume of 27,000 shares 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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.