Lloyds Engineering Works Ltd. has acquired a 51.13% stake in Steel Infra Solutions Company Ltd (SISCOL) for Rs 626.40 crore, making the heavy steel fabrication and infrastructure solutions company its subsidiary with effect from August 17.
The acquisition involved 2.09 crore equity shares of SISCOL and was completed through a combination of cash consideration and a share swap.
Lloyds Engineering Works paid Rs 127.34 crore in cash for a 10.39% stake and will issue 7 crore equity shares at Rs 71.25 apiece to SISCOL shareholders for the remaining 40.74% stake.
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 Rs 219 crore in cash. Collectively, the three entities acquired 86.89% of SISCOL.
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SISCOL Business and Financials
SISCOL operates in heavy steel fabrication and infrastructure solutions, serving the energy, infrastructure and industrial sectors. Its operations span design, engineering, fabrication, installation and project management for infrastructure projects.
The company reported a turnover of Rs 816.87 crore and net profit of Rs 43.42 crore in FY2025-26. Its revenue rose from Rs 573.49 crore in FY2023-24 to Rs 636.10 crore in FY2024-25 and Rs 816.87 crore in FY2025-26.
SISCOL currently has six production facilities and total production capacity of 1 lakh tonnes per annum. It has also contributed to projects including Terminal 1 at Delhi Airport, ITPL Bengaluru and Noida International Airport.
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Strategic Expansion
Lloyds Engineering Works said the acquisition will expand its engineering capabilities by combining SISCOL's steel fabrication expertise with its existing heavy mechanical, hydraulic, structural and process equipment portfolio.
The company expects procurement, engineering, manufacturing and overhead synergies, while the combined business could pursue larger turnkey and EPC projects.
Lloyds also plans to pursue a potential SISCOL listing within 30 months from completion of Stage 1, which it expects could support independent valuation and value creation for shareholders.
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