Lloyds Enterprises to acquire 17.98% stake in Steel Infra Solutions for Rs 219 crore

What Lloyds Enterprises announced

Lloyds Enterprises Limited (LEL) filed a notice with the BSE and NSE on 19 June 2026 stating that it has entered into a definitive agreement to acquire a 17.98% equity stake in Steel Infra Solutions Company Limited (SISCOL). The purchase price is approximately Rs 219 crore, which represents about 18% of the total consideration of Rs 1,073 crore for the transaction. The deal lifts the Lloyds Group’s consolidated holding in SISCOL to roughly 88%.

Details of the acquisition

• Stake acquired: 17.98% of SISCOL’s equity.
• Total consideration: ~Rs 1,073 crore.
• Lloyds’ cash outlay: ~Rs 219 crore (≈18% of the total consideration).
• Implied equity valuation of SISCOL: ~Rs 1,220 crore.
• Post‑deal holding: Lloyds Group’s overall stake in SISCOL will be about 88% after the transaction, building on its existing 52.16% holding in the group’s material subsidiary, LEWL.

The agreement was approved by Lloyds’ Board of Directors on 18 June 2026 and the filing serves as a formal update to the exchanges. The transaction is structured as an equity purchase; no debt or convertible instruments were mentioned in the filing.

Profile of Steel Infra Solutions (SISCOL)

SISCOL is a full‑stack structural steel fabricator offering design, engineering, fabrication and erection services. Since its inception in 2018, the company has completed 187 projects across 22 Indian states, handling heavy and technically demanding work. Notable projects include:

• Delhi Airport Terminal‑1 (T1)
• Noida International Airport, Jewar
• Dwarka Convention Centre, New Delhi
• International Hockey Stadium, Rourkela
• International Tech Park, Bengaluru
• Multiple railway and road bridges
• Data‑centre facilities nationwide
• LPG extraction plant in Algeria
• A 40‑storey government office building at Amaravati (under execution)
• Chalet Hotel, Mumbai (under execution)

SISCOL serves blue‑chip EPC and PMC clients such as L&T, Shapoorji Pallonji, Tata Projects, Adani Power, KEC International, Jindal Stainless and DP World. The company operates four design offices and six engineering offices in Bengaluru, Chennai, Hyderabad and Bhilai, and runs six manufacturing units in Bhilai, Vadodara and Hyderabad with a cumulative capacity of 100,000 MTPA.

Financially, SISCOL reported FY26 revenue of ~Rs 817 crore, EBITDA of ~Rs 92 crore and PAT of ~Rs 44 crore. The order book stands at ~Rs 1,134 crore, providing near‑term revenue visibility.

Transaction terms and post‑deal structure

The acquisition will be executed without altering SISCOL’s existing legal entity, brand identity or senior management team. Ravi Uppal, Chairman and Managing Director of SISCOL, will continue in his role, ensuring continuity for customers, employees and business partners. The deal aligns with Lloyds’ investment philosophy of adding strategic assets that complement its existing material subsidiary, LEWL, and expand its reach in heavy structural fabrication.

The combined entity will benefit from SISCOL’s in‑house design and engineering strength, allowing Lloyds to control quality, cost and delivery across the full project lifecycle. The transaction also consolidates Lloyds’ presence in the structural steel sector, where it already holds a 52.16% stake in LEWL, thereby raising the group’s overall exposure to ~88% of SISCOL’s equity.

Key facts at a glance

Why this matters for investors

• Strategic fit: The acquisition adds end‑to‑end structural steel capabilities to Lloyds’ existing material business, potentially enhancing cross‑selling opportunities and operational synergies.
• Financial exposure: Lloyds will invest ~Rs 219 crore in cash, which may affect its short‑term liquidity but also gives it a controlling stake in a business with a robust order book and healthy FY26 earnings.
• Dilution: The filing does not mention any issuance of new shares; the transaction is an outright purchase, so existing shareholders are unlikely to face dilution.
• Regulatory approvals: The deal is subject to standard approvals under the Companies Act and any sector‑specific clearances, but the filing indicates that the board has already approved the transaction.
• Continuity: SISCOL will retain its brand, legal entity and management, reducing integration risk and preserving existing client relationships.

Conclusion

Lloyds Enterprises Limited has signed a definitive agreement to acquire a 17.98% equity stake in Steel Infra Solutions Company Limited for approximately Rs 219 crore, valuing the target at about Rs 1,220 crore. The transaction raises Lloyds Group’s consolidated holding in SISCOL to roughly 88%, strengthening its position in the structural steel fabrication market. The acquisition is cash‑based, retains SISCOL’s existing management and brand, and adds a sizable order book and engineering capability to Lloyds’ portfolio. Final regulatory clearances are pending, after which the deal will be completed.