International Conveyors Limited — JV/Acquisition, 24-01-2025: Acquisition

International Conveyors Limited has acquired 41,038 equity shares of Balrampur Chini Mills Ltd., a prominent sugar manufacturing firm in India, for a cash consideration of ₹1.97 Cr. This acquisition, reflecting Balrampur's turnover of ₹5,593.74 Cr for FY 2023-24, is aimed at enhancing investment opportunities. Balrampur, founded in 1975, has diversified beyond sugar into distillation and cogeneration, positioning itself strategically within the sugar industry. This move is anticipated to strengthen International Conveyors' portfolio and capitalize on synergies in the growing sugar and bioproduct markets.