The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Elpro International Ltd & PACs
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Elpro International Limited, along with its Persons Acting in Concert (PACs) which include IGE India, Surbhit Dabriwala, Yamini Dabriwala, Ritu Dalmia, Smiti Somany, and others, purchased 14,724 equity shares of International Conveyors Limited through the open market on September 5, 2025. This raised their combined shareholding from 69.98% to 70.00% of the company. Elpro International belongs to the promoter group of International Conveyors, making this a promoter-level acquisition. The disclosure was filed under Regulation 29(2) of SEBI's SAST Regulations, 2011 on September 9, 2025. Total equity capital of International Conveyors stands at 6,33,79,000 shares of Re. 1 each.
The increase is marginal (0.02%) but pushes the promoter group's holding to the symbolic 70% mark, signalling continued promoter confidence in the company. Since promoter entities already hold over 5%, they can continue 'creeping' acquisitions up to 2% per financial year under SAST rules without triggering an open offer, leaving room for further incremental buying.