In a significant development, ASI Industries Limited has acquired equity shares of Lloyds Metals and Energy Ltd, according to a BSE regulatory filing.
The company has acquired 15,000 shares of Lloyds Metals, taking its cumulative holding to 75,000 shares, which is approximately 0.014% of the total shareholding.
The acquisition is valued at Rs 1.78 crores, and the shares were acquired through a stock exchange transaction. The company has stated that the acquisition is for investment purposes, with the aim of reaping long-term or short-term investment benefits.
Lloyds Metals and Energy Ltd is a prominent Indian enterprise in the steel and mining sector, operating across the entire steel manufacturing value chain.
The company has also stated that it does not intend to acquire control of the management of Lloyds Metals and Energy Ltd, either directly or indirectly.
The company has complied with the requirements of SEBI Listing Regulations, specifically Regulation 30, by disclosing the details of the acquisition.
The acquisition is a significant development for ASI Industries Limited, as it marks the company’s entry into the steel and mining sector. Lloyds Metals and Energy Ltd is a well-established player in the industry, with a strong presence in the steel manufacturing value chain.
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