Lloyds Metals and Energy shares rose 3.2% to an intraday high of ₹1,884 on Tuesday, September 22, a day after the company’s board of directors approved the issuance of non‑convertible debentures and sanctioned capacity expansion of its direct reduction iron (DRI) plants. The board’s decision followed a prior meeting on May 5, 2026, and an in‑principle approval dated October 13, 2025. The share price movement reflected investor confidence in the company’s expansion plans and the anticipated lift in production capacity.

The board approved the issuance of two separate non‑convertible debentures (NCDs) on a private placement basis, with aggregate amounts of up to ₹600 crore and ₹950 crore respectively. These issuances fall within the overall limits previously sanctioned by the board during the May 5, 2026 meeting and align with the existing in‑principle approval granted on October 13, 2025. The debentures are intended to fund the planned capacity expansions at the Ghugus and Konsari DRI plants, thereby supporting the company’s long‑term growth strategy.

The board has approved increasing the capacity of the DRI plant at Ghugus to 8,15,000 MTPA from 6,30,000 MTPA, while the Konsari plant will be expanded to 92,400 MTPA from 70,000 MTPA. The Ghugus expansion will require an investment of ₹140 crore, and the Konsari expansion will need ₹50 crore. With these enhancements, the total capacity of Lloyds’ DRI plants will exceed 9 lakh MTPA. The upgrades will be achieved through debottlenecking measures and optimisation of process and technological parameters.

Lloyds Metals said the expansion aligns with its strategy of strengthening its presence across the complete steel‑making value chain, enabling efficient utilisation of available iron ore reserves, and facilitating value addition through forward integration with existing sponge iron facilities. The company expects the expansion to support sustained development objectives while contributing to improved margins and enhanced profitability. It also aims to improve operational efficiency and utilisation of existing kiln facilities, interventions that have already resulted in an enhancement in production capacity.

At 10:51 AM, Lloyds Metals and Energy shares were trading at ₹1,863.8 apiece on the National Stock Exchange, up 2.15%. From the beginning of the year, the shares have jumped 35%. Over a month’s time, the stock fell 2.5%, while for a six‑month period it has surged 50%. The firm’s 52‑week high was ₹2,125 on August 10, 2026, and its 52‑week low was ₹1,042.90 on February 2, 2026. As of September 21, 2026, Lloyds Metals and Energy had a market capitalisation of ₹1.03 lakh crore.