Lloyd Metals' Stock Options for Blue-Collar Workers, Some of Whom Are Former Maoists

Lloyd Metals and Energy nominally shared the ownership of the company with its blue-collar workforce using stock options.

On Thursday, Lloyd Metals and Energy granted stock options to its 6,000 workers, a majority of wage workers doing manual work in mines or factories. Some of these workers are former Maoists who laid down arms seeking a stable life and a steady income.

The company granted 42,800 shares as stock options to its workers at ₹4 apiece. The market price of the share is ₹1,340.95; thus offering stocks valuing ₹5.8 crore to its work force. Earlier, Lloyd Engineering Works also had given out stock options worth ₹5.6 crore, along with another unlisted group company, Thriveni Earthmovers Pvt Ltd.

Headquartered in Chandrapur, a Maoist-affected area in Maharashtra, Lloyd is one of the very few companies which ventured into the region with an iron ore mine in 2021.