Mumbai: on Monday announced plans to raise ₹1,550 crore through (NCDs) on a private placement basis. The company also approved a significant increase in the capacity of its Direct Reduced Iron (DRI) plants at Ghugus and Konsari.
NCD Issuance Details
The Board of Directors approved the issuance of two separate NCDs, one aggregating ₹600 crore and another for ₹950 crore. This issuance is subject to regulatory approvals and falls within previously approved limits by the board on 5 May 2026.
Capacity Expansion Approved
Lloyds Metals will increase the capacity of its DRI plant at Ghugus by 1,85,000 MTPA, reaching a total of 8,15,000 MTPA. The DRI plant at Konsari will see an addition of 22,400 MTPA, taking its total capacity to 92,400 MTPA.
Total DRI Capacity
Following these enhancements, the company’s total capacity will exceed 9,00,000 MTPA. The capacity improvements will be achieved through debottlenecking and process optimisation.
Investment and Rationale
An investment of ₹140 crore is required for the Ghugus plant expansion and ₹50 crore for the Konsari plant, to be funded through internal accruals. The company said the expansion aligns with its strategy to strengthen its steel-making value chain, utilise iron ore reserves efficiently, and enhance profitability.
Equity Share Allotment
The board also approved the allotment of 1,41,969 equity shares of ₹1 face value each to Lloyds Employees Welfare Trust under the Employee Stock Option Plan – 2017. These shares were allotted at an exercise price of ₹4 per equity share, including a premium of ₹3.
Equity Capital Increase
This allotment increases the company’s issued and paid-up equity share capital to ₹56,30,48,920, comprising 56,30,48,920 equity shares. The newly allotted shares will rank pari passu with existing equity shares.
Board Meeting Concluded
The board meeting commenced at 3:00 P.M. (IST) and concluded at 3:25 P.M. (IST) on 21 September 2026.