Lloyd Metal and Energy opens QIP, sets floor price at Rs 732.08 per share

The share of Lloyd Metal and Energy closed at Rs 775(Up by 4.93% on Thursday.)

Lloyds Metals and Energy Ltd on 4 July, Thursday announced that the Committee of Board of Directors has authorised the opening of Qualified Institutional Placement(QIP) and also approved the floor price at Rs. 732.08 per equity share.

In an exchange filing the firm said, "We further wish to inform you that the Committee has fixed the “relevant date” for the purpose of the issue, in terms of Regulation 171 of the SEBI ICDR Regulations, as 04th July, 2024, and accordingly the floor price in respect of the issue has been determined, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations, as Rs. 732.08 per equity share."Pursuant to Regulation 176(1) of the SEBI ICDR Regulations, as amended and in accordance with the approval of the Shareholders accorded through a Special resolution passed by way of postal ballot dated 27th April, 2024, the Company may at its discretion offer a discount of not more than 5% on the floor price for the sssue. The issue price will be determined by the company in consultation with the book running lead manager appointed for the issue.

"In relation to the qualified institutions placement, we will file the Preliminary Placement Document dated 04th July, 2024, with BSE Limited and National Stock Exchange of India Limited today.Further, in accordance with the Insider Trading – Code of Conduct and the SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended, the trading window for dealing in the securities of the Company was closed for all designated persons and their immediate relatives(s) from July 1, 2024 till 48 (Forty Eight) hours after the conclusion of the Meeting of the Board of Directors to be held for the purpose of considering the Un-audited Financial Results (Standalone and Consolidated) for the quarter ended 30th June, 2024.

The share of Lloyd Metal and Energy closed at Rs 775(Up by 4.93% on Thursday.)

Meanwhile the net sales stood at Rs 1,554.29 crore in March 2024 up 77.38% from Rs. 876.25 crore in March 2023 and the quarterly net profit at Rs. 277.06 crore in March 2024 up 2.98% from Rs. 269.04 crore in March 2023 and the EBITDA stands at Rs. 466.48 crore in March 2024 up 153.51% from Rs. 184.01 crore in March 2023.