Lloyds Metals Expands with Major Stake in Thriveni Earthmovers

Lloyds Metals & Energy Ltd. moves to the forefront of India's mining sector with the acquisition of a 79.82% equity stake in Thriveni Earthmovers Private Limited. With B. Prabhakaran as Managing Director, this strategic expansion promises to boost production, streamline operations, and significantly influence market dynamics over the next two decades.

In a landmark acquisition, Lloyds Metals & Energy Ltd. has secured a 79.82% stake in Thriveni Earthmovers Private Limited, setting the stage for a massive expansion in its mining operations in India. The stock market has responded positively, propelled by the leadership of B. Prabhakaran, new Managing Director of Lloyds, as he navigates this transformative deal.

This strategic acquisition promises substantial growth, positioning Lloyds for long-term success with an order book valued at Rs 70,000 crore over the next 15-18 years. B. Prabhakaran's strategic vision aims to boost the company's production capacity, align operations for maximum efficiency, and cement Lloyds' standing as a dominant player in the steel and mining sectors.

The merger, encompassing Thriveni's extensive mining services across three countries, places a premium on operational excellence and sustainable practices. Valued at Rs. 70 crores, this transaction underscores the consolidation within India's mining landscape, setting new benchmarks under Prabhakaran's visionary leadership for both operational growth and expansion into key mining regions across the country.

(With inputs from agencies.)