Prime Securities Advises on ₹1,220 Cr M&A Deal for Lloyds Engineering
Prime Securities advised on the acquisition of a controlling stake in Steel Infra Solutions Company Limited (SISCOL) by Lloyds Engineering Works Limited (LEWL) for approximately ₹1,220 Crore. SISCOL reported FY26 revenues of ₹817 Cr. The deal aims to create India's largest structural steel fabrication company.
The M&A deal involves a substantial valuation of ₹1,220 Crore and aims to create one of India's largest integrated engineering and infrastructure platforms, which is expected to have a significant impact on the companies involved and the sector.
The announcement details a significant M&A transaction where Prime Securities acted as an advisor, highlighting a strategic consolidation in the infrastructure sector that is expected to create value for shareholders and position the combined entity for future growth.
Prime Securities Limited has announced its role as the sole advisor in a significant Mergers & Acquisitions (M&A) transaction where Lloyds Engineering Works Limited (LEWL) acquired a controlling stake in Steel Infra Solutions Company Limited (SISCOL).
The transaction values SISCOL at approximately ₹1,220 Crore. SISCOL, a prominent provider of structural steel infrastructure solutions, was incorporated in 2017 and has a track record of executing 187 projects across 22 states. The company boasts six fabrication facilities and four engineering and design centers, with a structural steel fabrication capacity of approximately 100,000 MTPA. For FY26, SISCOL reported operating revenues of ₹817 Crore, EBITDA of ₹92 Crore, and PAT of ₹44 Crore, with an order book of ₹1,134 Crore.
LEWL, a diversified infrastructure solutions company, has experienced substantial growth, with revenues increasing from ₹98 Crore in FY19 to over ₹3,000 Crore currently, supported by an order book exceeding ₹8,000 Crore and a market capitalization of approximately ₹12,800 Crore.
This acquisition, funded through a mix of cash and equity, is expected to double SISCOL's fabrication capacity to 200,000 MTPA, positioning it as India's largest structural steel fabrication company. The consolidation aims to create a highly integrated engineering, structural fabrication, and EPC platform, enhancing the combined entity's capability to undertake large and complex infrastructure projects. Significant operational synergies are anticipated across procurement, project management, engineering, manufacturing planning, and corporate functions.
Ravi Uppal will continue as Chairman and Managing Director of SISCOL, supported by the existing senior management team. N Jayakumar, Group CEO & MD of Prime Securities Limited, expressed delight in facilitating this strategic consolidation, noting it as one of the largest transactions for Prime Securities and indicating a future focus on similar consolidation opportunities.
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Prime Securities Limited filed this with the NSE as a statutory disclosure, categorised under merger. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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