International Conveyors Limited — JV/Acquisition, 14-01-2025: Acquisition

International Conveyors Limited has acquired a stake in Care Ratings Limited for a cash consideration of 3.1414 Cr, purchasing 25,329 equity shares. Care Ratings, which reported a turnover of 331.684 Cr in FY 2023-24, operates in the ratings industry, providing essential assessments for various sectors, including manufacturing and finance. This acquisition aims to enhance investment opportunities and strategically align the company's portfolio with the growing demand for credit ratings in India. The deal is expected to strengthen International Conveyors' market position and provide synergies moving forward.