Lloyds Steels Industries : Outcome of Board Meeting

LLOYDS STEELS INDUSTRIES LIMITED

Corporate Office :A-2, Madhu Estate, 2nd Floor, Pandurang Budhkar Marg, Lower Parel (W), Mumbai 400 013.

Tel: [phone] email :[e-mail],website: www.lloydsengg.in CIN : L28900MH1994PLC081235

MP/LSIL/BSEL-NSEL/22	27th January, 2022
The Department of Corporate Services,	The National Stock Exchange of India
BSE Limited	Limited
27th Floor, P.J. Towers, Dalal Street,	Exchange Plaza,
Mumbai - 400 001	Bandra Kurla Complex,
	Bandra (East), Mumbai - 400 051
Scrip Code : 539992	Symbol: LSIL

Sub: Outcome of Meeting of the Board of Directors pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Circular No. CIR/CFD/CMD/4/2015 dated 09th September, 2015

Dear Sir,

With reference to the captioned subject and in terms of the provisions of Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of Lloyds Steels Industries Limited at their meeting held today i.e. 27th January, 2022 has considered and approved the allotment 1,51,80,000 12% Optionally Fully Convertible Debentures ("OFCDs") of face value of Rs.13.65/- each at par aggregating to Rs. 20,72,07,000/- to Non Promoters ("Allottees"/ "Debenture holders") convertible at the option of the Debenture Holder into 1,51,80,000 fully paid up equity shares of face value of Re. 1/- (Rupee One Only) each of the Company within a period of 18 months from the date of allotment i.e., each such OFCD shall be converted at the option of the Debenture Holder within a period of 18 months from the date of allotment into one fully paid up equity share of Re. 1/- (Rupee One Only) each of the Company at a price of Rs. 13.65/- (including premium of Rs. 12.65/-) each per share being the price which is higher than the price of Rs.13.63 per share which is being computed in accordance with the price determined as per Regulation 164 under Chapter V of the SEBI (ICDR) Regulations or shall be redeemed in accordance with the provisions of applicable laws and regulations including the provisions of Chapter V of the SEBI (ICDR) Regulations and Companies Act, 2013.

The Company has passed special resolution in the Extra Ordinary General Meeting held on 24th January, 2022 for the issue of aforesaid OFCDs. The Company has also received In Principle approval from BSE Limited vide letter no. DCS/PREF/KK/PRE/1831/2021- 22 dated 19th January, 2022 and from National Stock Exchange of India Limited (NSE) vide letter no. NSE/LIST/29623 dated 18th January, 2022 for the aforesaid preferential issue of OFCDs.

MEENAKSHI ANKIT PANSARI

Digitally signed by

MEENAKSHI ANKIT PANSARI Date: 2022.01.27 11:52:21 +05'30'

Registered Office: Plot No. A-5/5, MIDC Industrial Area, Murbad, Thane - 421 401

Works: Plot No.A-6/3,A-5/5 & A-5/4, MIDC Industrial Area, Murbad, Dist. Thane 421 401, Tel.[phone]

MEENAKSHI ANKIT PANSARI

Below are the details as required as per Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Circular No. CIR/CFD/CMD/4/2015 dated 09th September, 2015:

1. Names of the Investor and other details:

Sr.	Name of Allottees	Category	Type of	No. of OFCDs
No.			securitie	allotted
			s allotted
1	Asha Om Hari Halan	Non-	OFCDs	30,00,000
		Promoter
2	Sujata Vimal Hari	Non-	OFCDs	30,00,000
	Halan	Promoter
3	Anju Ajay Kumar	Non-	OFCDs	30,00,000
	Halan	Promoter
4	Pravina Pavan Kumar	Non-	OFCDs	30,00,000
	Halan	Promoter
5	Vishakha Narayan Hari	Non-	OFCDs	30,00,000
	Halan	Promoter
6	Gajanand	Non-	OFCDs	1,80,000
	Shyamsunder	Promoter
	Mundhra
	TOTAL			1,51,80,000

2. Post Allotment of Securities:

• Outcome of Subscription:

1,51,80,000 12% OFCDs of face value of Rs. 13.65/- each are allotted on preferential basis at par amounting to Rs. 20,72,07,000/- to Non Promoters for cash consideration. The Company has received the entire amount of Rs. 20,72,07,000/- on the allotment of said OFCDs.

• Issue Price/ Allotted Price-
  The OFCDs are issued and allotted at the face value of Rs. 13.65/- each at par. The price has been fixed in accordance with Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements)
  Regulations, 2018.
• Number of Investor- 6 (Six)

3. Details of Conversion/ Redemption of OFCDs: -

1. The last and the final date of conversion of OFCDs shall be 26th July, 2023 (i.e. shall be converted within 18 months from the date of allotment of OFCDs). The OFCDs shall be converted into 1 fully paid up Equity Share of Re. 1/- each at a price of Rs. 13.65/- each (including Premium of Rs. 12.65/- each).

1. In case, Debenture holder does not choose to exercise the conversion option before the expiry of 18 months from the date of allotment of OFCDs, the OFCDs

held by the Debenture holders shall be redeemed compulsorily on the date of

Digitally signed byexpiry of 18 months from the date of allotment in accordance with the

MEENAKSHI ANKIT

PANSARI

Date: 2022.01.27 11:52:46 +05'30'

provisions of applicable laws and regulations including the provisions of Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations and Companies Act, 2013.

The Meeting of the Board of Directors commenced today at 11:30 A.M. and concluded at 11:50 A.M.

The above intimation is given to you for your record, Kindly take the note of the same.

Thanking You,

Yours faithfully,

For Lloyds Steels Industries Limited

MEENAKSHI ANKIT PANSARI

Digitally signed by

MEENAKSHI ANKIT PANSARI Date: 2022.01.27 11:52:59 +05'30'

Meenakshi A. Pansari Company Secretary