International Conveyors Limited has informed the Exchange about Acquisition
INTLCONV · price
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International Conveyors Limited (ICL) has acquired 710 Compulsory Convertible Preference Shares (CCPS) of JSW One Platforms Limited for a total cash consideration of Rs. 40.24 crore. The transaction was completed on June 17, 2025, and is classified as an investment purpose acquisition, not a related party transaction. JSW One Platforms is a B2B e-commerce platform serving India's construction and manufacturing MSMEs, with a turnover of Rs. 3,962.81 crore in FY 2024-25. The target has shown rapid growth, with turnover rising from Rs. 337.14 crore in FY 2022-23 to Rs. 1,397.93 crore in FY 2023-24 and nearly Rs. 3,963 crore in FY 2024-25.
This is a strategic investment by ICL into a fast-growing B2B e-commerce platform, providing exposure to a high-growth digital business outside its core conveyor belt operations. The deal size is meaningful relative to the investment nature and could be viewed positively if investors see value in diversification, though it is a non-core, minority investment.