Lloyds Engineering Works has received approval for acquisition of 13,75,000 equity shares of Techno Industries (TIPL) for a consideration of Rs 25 crore amounting to 11% of acquisition of shares in TIPL. The transaction is expected to be completed within three years. Post transaction, the company shall hold an aggregate stake of 88% in Techno Industries. The board of directors of the company at their meeting held on July 01, 2025, have approved the same.
The acquisition is of strategic nature and will help the company to expand its products offering to include Electrical Engineering products -- primarily pumps, motors and elevators. Techno Industries is engaged, amongst others, in the business of manufacturing, marketing of pumps, motors and elevators.
Lloyds Engineering Works (formerly known as Lloyds Steels Industries) is a designer and Manufacturer of Heavy Equipment, Machinery and Systems for Hydro Carbon Sector, Oil & Gas, Steel Plants, Power Plants, Nuclear Plant Boilers and Turnkey Projects.
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