International Conveyors Limited — JV/Acquisition, 18-11-2024: Acquisition

International Conveyors Limited has acquired 1,10,715 equity shares of Globus Spirits Ltd. for a cash consideration of ₹9.13 Cr. Globus Spirits, a player in the breweries and distilleries sector, reported a turnover of ₹3,147.23 Cr in FY 2023-24. This acquisition aims at strategic investment, positioning International Conveyors to leverage Globus Spirits' operational expertise and market presence, which has shown consistent growth in the past three years with a turnover of ₹2,343.84 Cr in FY 2021-22 and ₹2,822.47 Cr in FY 2022-23.