CCI approves Thriveni Earthmovers’ stake acquisition and merger into Lloyds Engineering Works.

May 12, 2026 : The Competition Commission of India has approved a strategic acquisition and merger involving Lloyds Engineering Works Limited, paving the way for a major restructuring in the engineering, infrastructure, and heavy equipment sector. The approval relates to the acquisition of a 7.14% stake in Lloyds Engineering Works Limited by Thriveni Earthmovers Private Limited and the merger of three group entities into Lloyds Engineering Works Limited as the surviving company.

In a press release issued on May 12, 2026, the Competition Commission stated that the proposed combination includes two components. The first involves a block deal through which Thriveni Earthmovers Private Limited acquired a 7.14% shareholding in Lloyds Engineering Works Limited on the BSE Limited on February 9, 2026. The second concerns the merger by absorption of Lloyds Infrastructure & Construction Limited, Metalfab Hightech Private Limited, and Techno Industries Private Limited into Lloyds Engineering Works Limited.

The approval comes under the regulatory framework of the Competition Act, 2002, which requires combinations such as mergers, acquisitions, and amalgamations exceeding prescribed financial thresholds to obtain clearance from the Competition Commission of India to ensure they do not cause an appreciable adverse effect on competition in India. The Commission’s approval indicates that the transaction, at least prima facie, does not raise anti-competitive concerns significant enough to block or modify the deal.

According to the press release, Thriveni Earthmovers Private Limited is engaged in contract mining operations, including exploration, drilling, excavation, transportation, and mineral processing services. The company is also involved in coal trading, manufacture of solid blocks, and investment activities.

Lloyds Engineering Works Limited operates in the heavy engineering and industrial manufacturing sector. The company designs and manufactures pressure vessels, heat exchangers, boilers, and other industrial machinery catering to sectors such as hydrocarbons, defence, steel, marine, and power. It is also involved in construction contracting activities.

The three entities proposed to be merged into Lloyds Engineering Works Limited also operate in related industrial and infrastructure businesses. Lloyds Infrastructure & Construction Limited undertakes civil construction, road infrastructure development, and erection and installation work involving steel structures and equipment. Metalfab Hightech Private Limited focuses on lightweight engineering and the manufacturing of steel and technological structures. Techno Industries Private Limited is engaged in manufacturing elevators, escalators, motors, and pumps.

The merger is expected to consolidate engineering, infrastructure, and manufacturing operations under a single corporate structure, potentially improving operational efficiency, reducing duplication of resources, and strengthening the combined entity’s market presence across industrial sectors. Legal and competition experts note that such vertical and complementary integrations are often viewed favourably when they do not substantially reduce competition or create dominant market positions.

The Competition Commission clarified that a “detailed order of the Commission will follow,” indicating that the full reasoning, market assessment, and legal analysis behind the approval will be published separately.

The approval is significant for India’s engineering and infrastructure sector as it reflects continuing consolidation trends among industrial companies seeking scale, diversification, and stronger execution capabilities in large infrastructure and manufacturing projects. It also highlights the Competition Commission’s ongoing role in scrutinising corporate restructuring transactions to ensure compliance with competition law while facilitating legitimate business expansion.