Promoters create Non-Disposal Undertaking, plus pledges, on shares for SBI term loan

Lloyds Metals promoters have disclosed encumbrances on their shares tied to a Rupee Term Loan the company availed from State Bank of India.

Wed 30 Sep 2026

NDU Date

25th August 2026

Largest NDU Holder

Thriveni Earthmovers 9,00,86,636 shares (16.00%)

Second Largest NDU Holder

Crosslink Food and Farms 5,56,39,683 shares (9.88%)

Pledge Entry 1

Sky United LLP 2,00,00,000 shares (3.55%)

Pledge Entry 2

Lloyds Metals & Minerals Trading LLP 2,00,00,000 shares (3.55%)

What was shared

Rajesh Rajnarayan Gupta, Promoter and Managing Director, shared a revised disclosure under Regulation 31(1) and 31(2) of the SEBI (SAST) Regulations on behalf of himself and the other promoters. It reports encumbrances on promoter shares connected to a Rupee Term Loan Facility availed by the company from State Bank of India, with SBICAP Trustee Company Limited acting as Security Trustee.

The Non-Disposal Undertaking

The NDU is dated 25th August 2026. Under it, the covered shares carry contractual restrictions on disposal, transfer or creation of any further encumbrance for the applicable period.

The update states clearly that under the NDU

• No pledge has been created over those shares.
• Legal and beneficial ownership stays with the respective promoters.
• Voting rights continue to be exercisable by the promoters, subject to the NDU terms.
• Dividends and other economic benefits continue to accrue to the promoters.
• There has been no transfer of shares to any third-party demat account; the shares remain in the promoters' own demat accounts.

Main NDU entries

• Thriveni Earthmovers Private Limited: holding 10,00,05,501 shares (17.77%); NDU created on 9,00,86,636 shares (16.00%), taking total encumbered to 9,58,66,998 shares (17.03%).
• Crosslink Food and Farms Private Limited: holding 6,55,58,548 shares (11.65%); NDU on 5,56,39,683 shares (9.88%), total encumbered 6,07,20,092 shares (10.79%).
• Lloyds Metals & Minerals Trading LLP: NDU on 1,57,41,529 shares (2.80%).
• Blossom Trade & Interchange LLP: NDU on 1,32,00,000 shares (2.34%).
• Ravi Babulal Agarwal: 1,19,07,240 shares (2.12%).
• Madhur Rajesh Gupta: 90,00,000 shares (1.60%) and 6,00,000 shares (0.11%).
• Shreekrishna Mukesh Gupta: 90,00,000 shares (1.60%) and 6,02,000 shares (0.11%).
• Lloyds Enterprises Limited: 2,596 shares (0.0005%).
• Smaller individual entries: Mukesh Rajnarayan Gupta 11,35,700 (0.20%), Renu Rajesh Gupta 12,04,420 (0.21%), Abha Gupta 11,69,540 (0.21%), Rajesh Rajnarayan Gupta 6,02,820 (0.11%).

Pledges shown separately

Two rows in the format record pledges rather than NDUs, both as security for the term loan/financial assistance:

• Sky United LLP: 2,00,00,000 shares (3.55%) pledged on 26.08.2026.
• Lloyds Metals & Minerals Trading LLP: 2,00,00,000 shares (3.55%) pledged on 27.08.2026.

How to read this

Promoter encumbrance linked to company borrowing is a security arrangement for the lender rather than a sale of shares. Investors typically track the share of promoter holding that is encumbered, since encumbered shares are restricted while the underlying facility is outstanding. Here a large portion of promoter holding is covered by the NDU, while a smaller portion is under pledge.

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