Kotak Alternate Asset Managers Limited on Friday announced an investment of nearly $78.2 million (Rs 750 crore) in the non-convertible debentures (NCDs) of Lloyds Metals & Energy Limited (LMEL), a listed integrated mining and metals company in India.
Maharashtra-based LMEL is undertaking expansion initiatives across mining, pelletisation, and downstream steel production capacities.
“Lloyds has built a strong and scalable mining platform with a clear path towards integration. Our investment is aimed at supporting the company’s next phase of growth and capacity expansion, while providing a flexible capital solution aligned with its long-term objectives,” said Rahul Chhaparwal, Partner, Kotak Alts.
Incorporated in 1977, LMEL is an integrated player in India’s metals and mining sector and is undertaking downstream steel capacity expansion initiatives. The company has expanded its mining capacities in recent years and continues to focus on integration across the steel value chain.
“This investment strengthens our capital base as we continue to scale our mining and integrated steel operations,” said Mukesh Gupta, Chairperson, LMEL.
At present, LMEL operates the Surjagarh iron ore mine, which has an environmental clearance capacity of 55 MTPA. The company has also developed supporting infrastructure across the value chain, including DRI plants, captive power generation facilities, a slurry pipeline, and a recently commissioned 4 MTPA pellet plant.
