International Conveyors Limited has informed the Exchange about Acquisition
INTLCONV · price
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International Conveyors Limited has completed the acquisition of equity shares in Jain Resource Recycling Limited for a cash consideration of Rs. 5 crore. The target company, incorporated in 2022, is engaged in recycling non-ferrous metal scrap and producing lead, copper, and aluminium alloys. Its lead ingots are registered with the London Metal Exchange. The acquisition was completed on May 11, 2026. Jain Resource Recycling reported a turnover of Rs. 7,125.77 crore for FY 2024-25, showing strong growth from Rs. 2,969.58 crore in the previous year. The acquisition is stated to be for investment purposes and is not a related party transaction.
This acquisition provides International Conveyors with entry into the non-ferrous metals recycling sector, which could diversify revenue streams. However, the Rs. 5 crore purchase price for a company with over Rs. 7,100 crore turnover suggests minority stake acquisition or investment.