Lloyds Engineering gets NSE, BSE nod for merger scheme with three entities
Himanshu Bose
Lloyds Engineering Works Limited has received ‘No Objection’ letters from both the National Stock Exchange (NSE) and BSE for its proposed merger scheme involving three entities — Lloyds Infrastructure & Construction Limited (LICL), Metalfab Hightech Private Limited (MHPL), and Techno Industries Private Limited (TIPL).
The company informed exchanges on May 19 that the approvals relate to the proposed Scheme of Merger by Absorption under Sections 230 to 232 of the Companies Act, 2013. The merger proposal was originally approved by the company’s board on December 29, 2025, subject to regulatory and statutory clearances.
According to the filing, NSE issued its observation letter dated May 18, 2026, while BSE issued its no-objection letter dated May 19, 2026.
The proposed merger is still subject to multiple approvals, including consent from shareholders and creditors of the companies involved, along with final clearance from the National Company Law Tribunal (NCLT).
In its detailed observation letter, NSE stated that the company must ensure disclosures regarding any ongoing adjudication, recovery proceedings, or enforcement actions involving the company, promoters, or directors while seeking shareholder and NCLT approval for the scheme.
The exchange also directed the company to disclose detailed financial and valuation-related information to shareholders, including revenue, EBITDA, PAT, valuation reports, revised shareholding patterns, and the rationale and synergies behind the merger proposal.
NSE further clarified that the observation letter will remain valid for six months from May 18, 2026, within which the scheme must be submitted before the NCLT.
BSE, in its separate communication, also confirmed that it has no adverse observations on the proposed arrangement and advised the company to comply with all applicable regulatory requirements and disclosures before proceeding further.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.