Lloyds Metals And Energy Limited (LLOYDSME) announced on 14th May 2025 that the Competition Commission of India (CCI), vide its letter dated 13th May 2025, has approved the combination related to Thriveni Earthmovers.

This approval is in relation to previously disclosed transactions:

• Disclosure dated 18th December 2024 regarding the Board's approval for subscribing to 70,00,00,000 equity shares of Thriveni Earthmovers and Infra Private Limited (TEIL), representing 79.82% of its paid-up capital, for an aggregate consideration of ₹70 crore.
• Disclosure dated 17th February 2025 regarding the execution of the Share Subscription Agreement.

These transactions were subject to the CCI's approval for the demerger of the Mining Development and Operations (MDO) business from Thriveni Earthmovers Private Limited (TEMPL) into TEIL.

The CCI has approved the combination which includes:

• Demerger of the MDO business of TEMPL into TEIL.
• Subscription of shares of TEIL by LLOYDSME.
• Subscription of shares of Lloyds Surya Private Limited by TEIL to acquire majority shareholding.

LLOYDSME noted that the detailed order from the CCI is awaited. It also stated that the demerger of the MDO business is still pending approval from the National Company Law Tribunal (NCLT).