Lloyd Enterprises witnessed a stock price surge of over 40% driven by a strategic acquisition in the mining sector.
The company is acquiring a 50% stake in Prakar Estates and Promoters LLP for Rs 140 crore, emphasizing a swift move by Lloyd Enterprises expected to be finalized before July 15, 2025.
Prakar Estates, with a major ownership in Geomysore Services India, specializes in mining assets acquisition, mineral testing, and geological consultancy.
Through the acquisition of Prakar Estates, Lloyd Enterprises will gain an indirect 31.58% stake in Geomysore Services, enabling a proactive exploration of investment opportunities in the mining industry.