International Conveyors Limited — JV/Acquisition, 04-04-2025: Acquisition

International Conveyors Limited has acquired 31,078 equity shares in CARE Ratings Limited for a cash consideration of ₹3.5472 crore. This acquisition, aimed at investment purposes, positions the company in the ratings industry, enhancing its market footprint in manufacturing, infrastructure, and financial sectors. CARE Ratings has demonstrated steady growth, with a turnover of ₹331.684 crore for FY 2023-24, up from ₹278.993 crore in FY 2022-23 and ₹247.632 crore in FY 2021-22. The acquisition is expected to provide strategic synergies and bolster operational capabilities for International Conveyors.