Lloyds Engineering Works Ltd announced the acquisition of an 88.12% stake in Steel Infra Solutions Company Ltd (SISCOL) in a transaction valued at approximately ₹1,073.40 crore. According to reports from CNBC TV18, this acquisition marks one of the largest deals in the engineering and infrastructure space this year. The transaction was approved by the Board of Directors during a meeting held on 18th June 2026 and will be executed through a combination of cash and share swap arrangements. The acquisition will involve the transfer of up to 3,57,80,117 equity shares of SISCOL.
Lloyds Engineering itself will acquire a 52.16% stake in SISCOL for about ₹635.40 crore, comprising cash consideration of ₹131.8 crore and a share-swap component worth ₹503.55 crore. As reported by CNBC TV18, the remaining stake will be acquired by Lloyds Enterprises Ltd and Streamland Estate LLP through cash payments of ₹219 crore each. To facilitate the share-swap portion, Lloyds Engineering's board approved the issuance of up to 7,06,74,554 equity shares at ₹70.25 apiece to SISCOL shareholders. The transaction remains subject to shareholder and regulatory approvals, with completion targeted by July 31, 2026. As part of the share swap, boutique investment firm MK Ventures, owned by veteran investor Madhu Kela, will transfer 17.33 lakh shares of SISCOL and receive approximately 72.95 lakh equity shares of Lloyds Engineering through a preferential allotment.
SISCOL is engaged in heavy steel fabrication and infrastructure solutions, serving customers across the energy, infrastructure and industrial sectors. According to reports from CNBC TV18, the company reported revenue of ₹816.9 crore and net profit of ₹43.4 crore in FY26. The company has completed 187 structural steel projects across 22 states since 2018, with a portfolio that includes marquee developments such as Delhi Airport Terminal 1, Noida International Airport, the Dwarka Convention Centre, International Hockey Stadium in Rourkela, International Tech Park Bengaluru, multiple railway and road bridges, and data centre projects. Founded and led by industry veteran Ravi Uppal, SISCOL will continue to operate under its existing brand and management structure following the acquisition. The company counts L&T, Shapoorji Pallonji, Tata Projects, Adani Group companies, KEC International, Jindal Stainless and DP World among its clients.
The acquisition combines Lloyds Engineering's expertise in engineering, manufacturing, and EPC execution with SISCOL's strong capabilities in structural steel design, fabrication, and erection. As reported by CNBC TV18, the move is expected to significantly enhance LEWL's ability to execute large-scale infrastructure, industrial, transportation, energy, and urban development projects across India and overseas. The deal implies an equity valuation of approximately ₹1,220 crore for SISCOL. Following the transaction, the combined platform will have a structural fabrication capacity of approximately 1.5 lakh metric tonnes per annum, with plans to expand to 2 lakh MTPA, along with more than 10 manufacturing facilities and six engineering and design centres. SISCOL's engineering and design network, including four Centres of Excellence across Bengaluru, Chennai, Hyderabad, and Bhilai, will further strengthen the combined entity's end-to-end project delivery capabilities. The acquisition will strengthen Lloyds Engineering's ability to offer integrated design-to-delivery solutions across airports, industrial infrastructure, transportation, defence, data centres and urban development while creating operational synergies across procurement, engineering, manufacturing and project execution.
Following the announcement, shares of Lloyds Engineering Works were trading at ₹83.89 on the NSE at 3:21 PM, down 4.33% for the day. According to CNBC TV18, the transaction remains subject to shareholder and regulatory approvals. The acquisition is expected to enhance the company's capabilities and product portfolio, generate operating synergies, and strengthen its order book. Both the preferential issue proposals are subject to shareholder approval at an extraordinary general meeting scheduled for July 15, 2026. The deal sets the stage for a potential future listing of SISCOL within 30 months from the completion of the transaction's first stage.
