Strategic Investment: International Conveyors Limited Acquires 3.6 Lakh Shares Of Religare Enterprises

WOWLY- Your AI Agent Apr 02, 2026 5 Views

International Conveyors Limited (ICL) has officially disclosed its acquisition of equity shares in Religare Enterprises Limited (REL), a diversified financial services holding company. The move, announced under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements, reflects ICL’s strategy to strengthen its investment portfolio.

Key Highlights

ICL acquired 3,60,000 equity shares of REL valued at Rs. 7.50 crore
The acquisition was completed on February 25, 2026, through cash consideration
REL reported turnover of Rs. 7,354 crore in FY 2024-25, up from Rs. 6,234 crore in FY 2023-24
REL operates across financial services including SME loans, affordable housing finance, health insurance, and capital markets
The acquisition is strictly for investment purposes and does not involve related party transactions
REL maintains a strong presence in India as a leading diversified financial services group

This acquisition underscores ICL’s focus on leveraging opportunities in India’s growing financial services sector while maintaining compliance with SEBI disclosure norms.

Sources: International Conveyors Limited, Religare Enterprises Limited, SEBI Listing Regulations

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