Pursuant to Regulation 30 of the SEBI Listing Regulations, we wish to inform you that the Company has acquired the equity shares of "Jain Resource Recycling Limited."
INTLCONV · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
International Conveyors Limited has acquired 87,105 equity shares of Jain Resource Recycling Limited for a cash consideration of Rs. 5 Crore, completed on May 11, 2026. The target company is a non-ferrous metal recycling firm incorporated in 2022, specializing in lead, copper, and aluminium alloys, with London Metal Exchange-registered lead ingots. Jain Resource Recycling reported a turnover of Rs. 7,125.77 Crore in FY 2024-25, up significantly from Rs. 2,969.58 Crore in FY 2023-24. The acquisition is stated to be for investment purposes and is not classified as a related party transaction. Required regulatory approvals are not applicable.
This acquisition diversifies ICL's portfolio beyond its core conveyor belt business into the non-ferrous metals recycling sector. The target's large turnover (Rs. 7,125.77 Cr) relative to the acquisition cost (Rs. 5 Cr) suggests ICL has acquired a minority stake, limiting immediate impact on ICL's financials but providing potential long-term value.