International Conveyors Limited — JV/Acquisition, 28-03-2025: Acquisition

International Conveyors Limited has acquired 11,466 equity shares in Ganesha Ecosphere Ltd. for a cash consideration of ₹1.7840 Crore. Ganesha Ecosphere, specializing in rPET fibre manufacturing, reported a turnover of ₹1,122.927 Crore for FY 2023-24. This acquisition is aimed at investment purposes, with no related party implications. The move enhances International Conveyors' market presence in the textile sector, particularly in sustainable materials, and is expected to drive growth and operational synergies. Completion of the acquisition is targeted for March 28, 2025, positioning the company strategically in the growing textile market.