Kotak Alternate Asset Managers Limited (“Kotak Alts”) today announced its investment of INR 750 crore in the non-convertible debentures (NCDs) of Lloyds Metals & Energy Limited (“LMEL”), a listed integrated mining and metals company in India.
LMEL is a fast-growing integrated player in India’s metals and mining sector with operations spanning iron ore mining, supported by a strong pipeline of downstream steel capacity expansion. In recent years, LMEL has demonstrated strong growth in production and profitability, driven by enhanced mining capacities, increasing integration across the steel value chain, and favourable sector tailwinds.
Rahul Chhaparwal, Partner, Kotak Alts said, “Lloyds has built a strong and scalable mining platform with a clear path towards integration. Our investment is aimed at supporting the company’s next phase of growth and capacity expansion, while providing a flexible capital solution aligned with its long-term objectives. We look forward to deepening our relationship with the Lloyds Group and partnering with them as they continue to scale the business.”
Mukesh Gupta, Chairperson, LMEL said, “We are delighted to partner with Kotak Alts. This investment strengthens our capital base as we continue to scale our mining and integrated steel operations. Kotak’s solution oriented and long-term approach aligns well with our growth plans, and we look forward to building this partnership as we expand our platform.”