The said funds would be raised via issuance of equity shares or convertible bonds or debentures or any other securities, through permissible modes including but not limited to a rights issue, preferential issue or qualified institutions placement, as may be permitted under applicable law and subject to any regulatory/ statutory approvals, as may be required.

Lloyds Steels Industries provides a complete package of engineering and infrastructure solutions by carrying out designing, engineering, manufacturing, fabrication and installation. Its products cover a whole array of categories in heavy equipment, machinery and systems for hydro carbon sector, oil & gas, steel plant equipments, power plants, nuclear plant boilers and turnkey projects.

The company reported a net profit of Rs 6.42 crore in Q4 FY23 as against a net profit of Rs 1.25 crore in Q4 FY22. Revenue in the fourth quarter surged to Rs 173.85 crore from Rs 18.25 crore recorded in the same period last year.