International Conveyors Acquires Equity Shares in Jain Resource Recycling Limited
International Conveyors Limited has announced the acquisition of equity shares in Jain Resource Recycling Limited. The acquisition is primarily intended for investment purposes.The transaction, detailed in a filing dated May 11, 2026, outlines the acquisition of 87,105 equity shares in Jain Resource Recycling Limited. The cost of this acquisition was set at 5 Crore, utilizing a cash consideration.
Details of the Target Entity
Jain Resource Recycling Limited operates in the Diversified Metals industry. The company was incorporated in 2022 and specializes in the recycling of non-ferrous metal scrap. Its product output includes lead, copper, and aluminium alloys. Notably, the lead ingots produced by the company are registered with the London Metal Exchange, which ensures adherence to international quality standards. The company also engages in trading non-ferrous metals and commodities.
The target entity, Jain Resource Recycling Limited, reported a turnover of 7125.77 Cr as per its last audited financials for the Financial Year 2024-25.
Financial Overview
The turnover of Jain Resource Recycling Limited over the last three financial years shows consistent growth:
| Financial Year | Turnover (Rs. in Cr.) |
|---|---|
| FY 22-23 | 1927.01 |
| FY 23-24 | 2969.58 |
| FY 24-25 | 7125.77 |
The acquisition does not fall within a related party transaction, and the acquiring company noted that no governmental or regulatory approvals were required for the purchase. The indicative time period for the completion of the acquisition is May 11, 2026.
INTLCONV Stock Price Movement
On Monday, shares of International Conveyors Limited edged higher, rallying 1.86% on a daily gain of ₹1.53. The stock saw increased investor interest, trading a volume of 166,708 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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