Lloyds Engineering Acquires Remaining 12% Stake in Techno Industries

Lloyds Engineering Works Ltd has announced an amendment to its Share Purchase Agreement with Techno Industries Private Limited. The amendment involves the acquisition of the remaining 12% stake in Techno Industries, equating to 14,99,999 equity shares at a face value of Rs. 10 each. The total consideration for this acquisition is Rs. 22.70 Crore. This transaction will result in Lloyds Engineering holding a 100% stake in Techno Industries, thereby making it a wholly-owned subsidiary.

The financial terms of the acquisition specify a cash consideration of Rs. 22.70 Crore. This amount is for the purchase of the remaining 12% equity in Techno Industries. The acquisition is structured as a cash transaction, with no share swap or other forms of consideration involved. The acquisition price reflects the value of the shares at the time of the agreement.

Techno Industries Private Limited is engaged in the manufacturing and marketing of pumps, motors, and elevators. The company has an authorized share capital of INR 15 Crore, consisting of 1,50,00,000 equity shares. The total issued, paid-up, and subscribed share capital is INR 12.49 Crore, comprising 1,24,99,999 fully paid-up equity shares. The acquisition aligns with Lloyds Engineering’s strategic objective to expand its product offerings in the electrical engineering sector.

The acquisition does not require any governmental or regulatory approvals, as stated in the filing. The transaction is expected to be completed within one month from the date of the announcement. This timeline is indicative and subject to the fulfillment of all necessary conditions outlined in the amended agreement.

Techno Industries Private Limited, incorporated on May 1, 2000, is based in Ahmedabad, Gujarat. The company reported a turnover of Rs. 15,504 Lakhs for the financial year 2024-25. The acquisition will enable Lloyds Engineering to integrate Techno Industries’ product lines into its existing operations, enhancing its market presence in the electrical engineering domain.

Lloyds Engineering Works Ltd focuses on expanding its portfolio in the engineering sector. The company’s strategic priorities include enhancing its product offerings and increasing its market share in the electrical engineering industry. The acquisition of Techno Industries is a step towards achieving these objectives, allowing Lloyds Engineering to diversify its product range and strengthen its position in the market.