The company will issue 4 crore warrants at a price of Rs 740 each with face value Re 1 and a premium of Rs 739 each.
The convertible warrants can be converted into equity shares with face value of Rs 1 each at a premium of Rs 739 each, within 18 months from the date of allotment , in one or more tranches.
Lloyds Metals and Energy is a metals and mining company engaged in mining iron ore, manufacturing sponge iron and generating power.
The company’s consolidated net profit rose 2.89% to Rs 276.8 crore on 74.43% jump in income from operations to Rs 1,562.4 crore in Q4 FY24 over Q4 FY23.
The counter hit an all time high of Rs 785.90 in today’s intra-day session.