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International Conveyors Limited has acquired 25,334 equity shares of Thangamayil Jewellery Ltd. for a cash consideration of ₹4.3759 Crore. Thangamayil, a prominent player in the gems and jewellery sector, reported a turnover of ₹3,826.78 Crore for FY 2023-24, showcasing significant growth over the past three years. This strategic investment aims to enhance International Conveyors' portfolio and leverage the retail jewellery market's growth potential in Tamil Nadu. The acquisition reflects a continued focus on expanding business avenues and bolstering market presence without any related party transactions involved.