Lloyds Metals and Energy Limited announced a private placement of 0% optionally fully convertible debentures at a price to be determined as per Chapter V of the SEBI or at a price of INR 150 per debenture for proceeds of INR 60,000,000 on April 29, 2022. The transaction will include participation from Sunflag Iron & Steel Company Limited. The debentures will be convertible at the option of the investor into 60,000,000 fully paid-up equity shares of face value of INR 1 at a price to be determined as per Chapter V of the SEBI (ICDR) Regulations, 2018 or at a price of INR 150 per debenture. The transaction is subject to the approval of the shareholders of the company and subject to the other regulatory approvals. The securities are unsecured. Each such optionally fully convertible debentures is convertible into 1 equity share and the conversion can be exercised after a period of 9
months but not later than 18 months from the date of allotment.