Kotak Alternate Asset Managers has invested ₹750 crore in the non-convertible debentures of Lloyds Metals & Energy, a listed integrated mining and metals company in India.
LMEL has operations spanning iron ore mining, supported by a strong pipeline of downstream steel capacity expansion. In recent years, LMEL has demonstrated strong growth in production and profitability, driven by enhanced mining capacities, increasing integration across the steel value chain, and favourable sector tailwinds.
Rahul Chhaparwal, Partner, Kotak Alts said Lloyds has built a strong and scalable mining platform with a clear path towards integration.
The investment will support the company’s next phase of growth and capacity expansion, while providing a flexible capital solution aligned with its long-term objectives, he said.
Mukesh Gupta, Chairperson, LMEL said the investment strengthens the company’s capital base as it continues to scale mining and integrated steel operations.
Incorporated in 1977, LMEL is a Maharashtra-based integrated metals and mining company and India’s one of the largest iron ore miner. It operates the Surjagarh iron ore mine with a 55 MTPA environmental clearance. The company has built a diversified infrastructure including DRI plants, captive power generation, a slurry pipeline, and a recently commissioned 4 MTPA pellet plant.
LMEL is steadily transforming into a fully integrated steel producer, backed by a large capex through FY’29. Its expansion roadmap includes scaling mining, pelletisation, and downstream steel production capacities. The acquisition of Thriveni Earthmovers has further strengthened its mining integration and operational capabilities.