International Conveyors Ltd Acquires Equity Shares of Religare Enterprise Limited
International Conveyors Limited has acquired the Equity shares of Religare Enterprise Limited. The acquisition details relate to the company's objective of an Investment Purpose.The transaction involves acquiring 1,40,000 equity shares at a cost of acquisition of 3.13 Crore. The consideration for the acquisition is in the form of Cash Consideration.
Key details of the target entity, Religare Enterprise Limited, reveal that the company's turnover as per last audited financials for FY 2024-25 was 7354.236 Cr.
The sector for the acquired entity is identified as Investment Company.
Acquisition Summary Details
The timing for the completion of this acquisition is indicated as April 08, 2026. The acquisition does not fall within a related party transaction, and there is no stated interest from the promoter or promoter group in the entity being acquired.The background on Religare Enterprises Limited notes that it functions as the holding company for one of India's leading diversified financial services groups. The entity offers an integrated suite of financial services through its subsidiaries and operating entities, including Affordable Housing Finance, Health Insurance, and loans to SMEs.
Turnover Overview
The turnover for Religare Enterprises Limited over the last three financial years shows the following figures:| Financial Year | Turnover (Rs. in Cr.) |
|---|---|
| F.Y. 22-23 | 6234.786 |
| F.Y. 23-24 | 4676.456 |
| F.Y. 24-25 | 7354.236 |
The article confirms that the company's move is classified as an Investment Purpose and specifies that no governmental or regulatory approvals were noted as required for the acquisition.
INTLCONV Stock Price Movement
International Conveyors Limited shares today edged higher to close at ₹73.46, marking a strong gain of 4.93%. The stock settled amid a volume of 55,843 shares, closing near the daily high recorded at ₹74.53.Source:
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