Lloyds Metals approves ₹1,550 crore NCDs and DRI expansion
after close1 source ↓written by the desknot a recommendation
- in Non-Convertible Debentures
- ₹1,550 cr
- two tranches
- ₹600 cr
- ₹950 cr
- using internal accruals
- 907,400 MTPA
The Board of Lloyds Metals and Energy has approved the issuance of ₹1,550 cr in Non-Convertible Debentures (NCDs) via private placement, split into two tranches of ₹600 cr and ₹950 cr. Additionally, the company plans to expand its Direct Reduced Iron (DRI) capacity to 907,400 MTPA using internal accruals, enhancing its sponge iron manufacturing capabilities.
This strategic move aims to bolster its downstream steel operations and secure a capital buffer, potentially improving market positioning and operational efficiency.
Not investment advice. For informational purposes only.