Lloyds Engineering Works Ltd. has successfully acquired a 51.13% controlling stake in Steel Infra Solutions Company Ltd (SISCOL) for ₹626.40 crore, making the heavy steel fabrication and infrastructure solutions company its subsidiary with effect from August 17, 2026. According to reports from CNBC TV18, the acquisition involved 2.08 crore equity shares of SISCOL and was completed through a combination of cash consideration and share swap arrangements. The transaction was structured with Lloyds Engineering Works paying ₹127.34 crore in cash for a 10.39% stake and issuing 7 crore equity shares at ₹71.25 apiece to SISCOL shareholders for the remaining 40.74% stake.
The transaction was structured with Lloyds Engineering Works paying ₹127.34 crore in cash for 42.45 lakh SISCOL shares representing 10.39% of the target company's outstanding equity share capital. For the remaining 1.66 crore shares representing 40.74%, Lloyds Engineering Works will issue and allot 7.00 crore equity shares on a preferential basis to SISCOL's sellers at ₹71.25 per share. As reported by CNBC TV18, the total consideration for the share-swap component is up to ₹499.05 crore. The transaction was carried out under a Share Purchase, Share Subscription and Shareholders' Agreement signed on June 18, 2026, between Lloyds Engineering Works, its holding company Lloyds Enterprises, Streamland Estate LLP, SISCOL and its shareholders.
Alongside Lloyds Engineering Works, Lloyds Enterprises and Streamland Estate each acquired a 17.88% stake in SISCOL for ₹219 crore in cash, collectively acquiring 86.89% of the company. According to CNBC TV18, the three entities worked together to complete this significant acquisition in the heavy steel fabrication sector. The acquisition gives Lloyds Engineering control of SISCOL, which reported ₹817 crore revenue in FY26 and has steel fabrication capacity of 100,000 tonnes per annum.
SISCOL reported a turnover of ₹816.87 crore and net profit of ₹43.42 crore in FY2025-26, demonstrating strong financial performance. As reported by CNBC TV18, the company's revenue showed consistent growth from ₹573.49 crore in FY2023-24 to ₹636.10 crore in FY2024-25 and ₹816.87 crore in FY2025-26. SISCOL currently operates six production facilities with total production capacity of 100,000 tonnes per annum, including a newly opened facility in Hyderabad. The company serves customers across the energy, infrastructure and industrial segments, covering design, engineering, fabrication, site installation and project management for infrastructure projects.
Lloyds Engineering Works expects the acquisition to expand its engineering capabilities by combining SISCOL's steel fabrication expertise with its existing heavy mechanical, hydraulic, structural and process equipment portfolio. According to CNBC TV18, the company anticipates procurement, engineering, manufacturing and overhead synergies, while the combined business could pursue larger turnkey and EPC projects. Lloyds also plans to endeavour to file the Draft Red Herring Prospectus for a future listing of SISCOL within 30 months from completion of Stage 1, which could support independent valuation and value creation for shareholders. The acquisition is aligned with Lloyds Engineering's objective of building a diversified, multi-disciplinary engineering platform.
