JSA advised Lloyds Metals and Energy Limited (“LMEL”), in relation to its qualified institutions placement (“QIP”) of 1,75,00,000 equity shares to qualified institutional buyers aggregating to approximately ₹1,218.00 crore.
LMEL is one of the top five merchant miner in India. The Book Running Lead Manager to this QIP was JM Financial Limited.
JSA’s deal team comprised Lead Partner – Arka Mookerjee, Partner – Pracheta Bhattacharya, Senior Associate – Sourav Modi, Associate – Ayushi Pandit, Dhvanit Kothari and Jeebitesh Bhattacharya.
The QIP attracted a wide array of investors, such as long-only funds, mutual funds, insurance companies, and other significant stakeholders.
During the QIP, several institutional investors participated, with the allotments being distributed such that each received over 5% of the total issue size. Authum Investment and Infrastructure was the largest recipient, securing a substantial 32.29% of the allocation. Quant Mutual Fund – Quant Mid Cap Fund followed with a 19.89% allocation. Shamyak Investment Private received 5.71%, while Quant Mutual Fund – Quant Large & Mid Cap Fund and Santosh Industries were allocated 9.82% and 5.71%, respectively. Timf Holdings obtained a 10.57% allocation.
The funds raised through the QIP will be used to establish a 4 MTPA pellet plant in Konsari, Maharashtra, along with an iron ore and grinding unit. This setup aims to produce blast furnace and DRI grade pellets, aligning with the company’s strategic objectives and growth plans for forward integration.
JSA advised Kauvery Hospital in multiple property acquisition and setting up of hospitals
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