Lloyds Engineering shares rise 3% after announcing ₹987-cr rights issue

The company's board has declared a rights Issue of 30,85,17,476 equity shares on a partly paid-up basis, aggregating up to ₹987.25 crore

Shares of Lloyds Engineering Works advanced 3.16 per cent to ₹62.99 apiece on the National Stock Exchange (NSE) during intra-day trade on Thursday, April 17, 2025.

 

The uptick in Lloyds Engineering's share price came after the company announced that its board has declared a rights Issue of 30,85,17,476 equity shares on a partly paid-up basis, aggregating up to ₹987.25 crore. The company, in an exchnage filing, has said that it has fixed the rights Issue Price at ₹32 per equity share when fully paid up (including a premium of ₹31 per rights equity share).

 

The record date has been set for Monday, April 28, 2025, to determine the existing equity shareholders entitled to receive the rights entitlement in the rights Issue. The rights issue period is scheduled from Thursday, May 15, 2025, to Friday, May 30, 2025.

 

The rights entitlement ratio is 9 rights equity shares for every 34 fully paid-up equity shares held by the eligible equity shareholders of the company as of the record date.

 

Lloyds Engineering designs, manufactures, and supplies heavy equipment, machinery, and systems for various industries, including hydrocarbons and oil & gas, steel plants, power plants, and nuclear plant boilers. The company also undertakes turnkey projects and offers services such as design, engineering, manufacturing, fabrication, supply, erection, and commissioning. As of April 17, the company's market capitalisation stands at ₹7,271.61 crore on the NSE.

 

The shares have a 52-week range of ₹93.40 – ₹50.33 per share on the NSE.

 

Lloyds Engineering Works shares have posted a decline of nearly 20 per cent year-to-date.

 

At around 2:15 PM on Thursday, Lloyds Engineering shares were trading at ₹62.41 apiece, up 2.26 per cent from their previous close of ₹61.03 on the NSE. A combined total of nearly 4.3 million equity shares of Lloyds Engineering, estimated to be valued at ₹26.5 crore, exchanged hands on the NSE and BSE.

 

At the same time, the benchmark indices showed strong performance: the BSE Sensex was trading at 78,395, up 1,350 points or 1.75 per cent, while the NSE Nifty50 was up 388 points or 1.66 per cent at 23,825.