Board Approves Twin Resolutions Worth Rs 1,550 Crore
Lloyds Metals and Energy Limited's board has approved the raising of Rs 1,550 crore through non-convertible debentures (NCDs) alongside a 900,000 MTPA expansion of its direct reduced iron (DRI) manufacturing capacity, as reported by Sahi on 21 September 2026. The two resolutions were passed together, linking fresh debt capital to a defined production-capacity target.
No further breakdown of the NCD terms, project location, timeline or sub-contractor appointments was available in the published report at the time of writing.
| Detail | Information |
|---|---|
| Promoter / Company | Lloyds Metals and Energy Limited |
| Instrument | Non-Convertible Debentures (NCDs) |
| Fundraise Value | Rs 1,550 crore |
| Capacity Addition | 900,000 MTPA DRI |
| Sub-sector | Ferrous Metals — Direct Reduced Iron |
| Reported | 21 September 2026 (Sahi) |
DRI Expansion in the Context of India's Steel Pipeline
The Lloyds Metals announcement adds to a substantial pipeline of iron and steel capital projects across India. Projects India tracks 2,292 live projects in the Ferrous Metals (Iron and Steel) sub-sector, with 35 new projects added in the preceding 90 days alone. DRI and sponge iron schemes feature prominently among recently tracked projects, including expansions in Gujarat, Karnataka and Chhattisgarh.
The scale of Lloyds Metals' proposed 900,000 MTPA addition positions it as a sizeable incremental capacity step within this active pipeline, though the database does not provide a basis for ranking it against peers.
Where Activity Is Concentrated
Supplier and contractor interest in ferrous metals projects is spread unevenly across states. Among the 2,292 projects tracked by Projects India, the heaviest concentrations are:
- Chhattisgarh: 430 projects
- Maharashtra: 246 projects
- Karnataka: 236 projects
- West Bengal: 235 projects
- Odisha: 217 projects
- Jharkhand: 147 projects
Chhattisgarh's lead reflects the state's long-standing role as a hub for sponge iron and steel manufacturing. Karnataka and Odisha have seen recent construction-stage activity, as evidenced by tracked projects such as the Agarwal Sponge & Energy expansion at Ballari and the Samaleshwari Ferrometals plant at Sambalpur.
Pipeline Stage Breakdown
Understanding where projects sit in their lifecycle helps suppliers prioritise outreach. The stage distribution across all 2,292 tracked ferrous metals projects is as follows:
- Under Approvals: 910 projects — the largest cohort, representing near-term procurement opportunities once clearances are secured
- Completed: 452 projects
- Construction Started: 338 projects — active sites requiring equipment, materials and services now
- Hold: 193 projects
- Planning: 149 projects
- Approvals Received: 121 projects — projects that have cleared regulatory hurdles and are approaching tendering
The 338 construction-stage projects and 121 approvals-received projects together represent a combined 459 schemes where procurement engagement is either underway or imminent. This pipeline context underscores the significance of large fundraises such as Lloyds Metals' NCD approval, which signals that capital is being arranged ahead of execution.
What this means for suppliers and contractors
For equipment suppliers, civil contractors and raw-material providers active in the DRI and sponge iron segment, the Lloyds Metals board resolution is an early indicator of forthcoming procurement activity. NCD approval typically precedes tendering for plant and machinery, refractory materials, material-handling systems and civil works associated with a DRI facility of this scale.
With 900,000 MTPA of incremental DRI capacity on the table, the project would require kilns or shaft furnaces, coal or gas handling infrastructure, iron ore feed systems and downstream product-handling equipment, though the precise configuration has not been disclosed in available reporting.
Suppliers already monitoring the broader Industrial Projects sector will note that the ferrous metals pipeline remains one of the most active segments tracked on the platform. The 910 projects currently under approvals represent a forward order book of opportunity that will progressively move into construction over coming quarters.
Contractors seeking to position early should also review all tracked projects across stages to identify where Lloyds Metals' existing operational footprint and related supply chains may create adjacent opportunities.
Frequently asked questions
How much has Lloyds Metals approved in NCDs?
Lloyds Metals' board approved the raising of Rs 1,550 crore through non-convertible debentures, as reported by Sahi on 21 September 2026. The funds are linked to a 900,000 MTPA DRI capacity expansion.
What is the DRI capacity being added by Lloyds Metals?
The board resolution covers a 900,000 MTPA addition to Lloyds Metals' direct reduced iron manufacturing capacity. No further details on location, timeline or technology configuration were available in the published report.
How many iron and steel projects are active in India?
Projects India tracks 2,292 live projects in the Ferrous Metals sub-sector across India, with 35 added in the last 90 days. Chhattisgarh leads with 430 projects, followed by Maharashtra with 246 and Karnataka with 236.
Which Indian states have the most steel and iron projects?
Chhattisgarh leads with 430 tracked ferrous metals projects, followed by Maharashtra at 246, Karnataka at 236, West Bengal at 235, Odisha at 217 and Jharkhand at 147, according to Projects India data.
