What’s new

• Prime Securities acted as sole investment banker for Lloyds Engineering's acquisition of a controlling stake in SISCOL.
• The deal values SISCOL at ₹1,220 crore, combining LEWL's EPC strengths with SISCOL's steel expertise.
• Advisory fee estimated at ₹12-24 crore, representing 8-16% of Prime's annual revenue.

Why it matters

A mandate of this scale is significant for a micro-cap advisor like Prime Securities. The fee alone could boost revenue by nearly a fifth, and the deal cements Prime's role in infrastructure M&A, likely opening doors to larger advisory assignments.

What we’re watching

• When the fee revenue will be recognised — likely over the deal closing period.
• Whether Prime lands follow-on consolidation mandates in the infrastructure space.
• Any guidance from management on deal pipeline visibility.

The full read

Prime Securities has landed its biggest M&A advisory mandate yet, the sole banker to Lloyds Engineering's acquisition of a controlling stake in SISCOL at an equity valuation of ₹1,220 crore. The fee, estimated at ₹12-24 crore, represents up to 16% of Prime's annualised revenue of roughly ₹130 crore. For a micro-cap advisor, that is a substantial revenue boost. The deal merges LEWL's EPC strength with SISCOL's structural steel expertise, with plans to double capacity to 200,000 MTPA. Prime's group CEO called it one of the largest the firm has executed, positioning it for more consolidation work in infrastructure. The revenue hit is one-off, but the credibility lift is lasting.

Primary source: BSE · NSE