International Conveyors: Acquires 1.4 Lakh Shares Of Religare Enterprises For Investment Strategy

International conveyors Limited has completed the acquisition of equity shares in Religare Enterprise Limited, marking a strategic investment move in the financial services sector. The company disclosed this transaction under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Transaction Details

The acquisition involved a cash consideration of ₹3.13 crore for 1,40,000 equity shares of Religare Enterprise Limited. The transaction was completed on April 08, 2026, and was undertaken purely for investment purposes.

Parameter: Details Target Company: Religare Enterprise Limited Shares Acquired: 1,40,000 equity shares Acquisition Cost: ₹3.13 crore Nature of Consideration: Cash Completion Date: April 08, 2026 Purpose: Investment

About Religare Enterprise Limited

Religare Enterprise Limited operates as the holding company for one of India's leading diversified financial services groups. The company offers an integrated suite of financial services through its underlying subsidiaries and operating entities, including:

Loans to small and medium enterprises (SMEs)

Affordable housing finance

Health insurance services

Capital markets operations

The target company operates exclusively within India and belongs to the investment company industry segment.

Financial Performance

Religare Enterprise Limited has demonstrated consistent revenue growth over the past three financial years. The company's turnover progression shows strong upward momentum across the period.

Financial Year: Turnover (₹ in Crore) FY 2024-25: 7354.24 FY 2023-24: 6234.79 FY 2022-23: 4676.46

Regulatory Compliance

The acquisition does not fall within the scope of related party transactions, and no promoter, promoter group, or group companies have any interest in the entity being acquired. The transaction did not require any governmental or regulatory approvals beyond standard compliance requirements.

International Conveyors Limited confirmed that this acquisition represents a diversification move outside its main line of business, as the company ventures into the financial services sector through this strategic investment in Religare Enterprise Limited.

International Conveyors Limited has completed a significant promoter group restructuring with Amaranth Daksha Private Limited acquiring 24,15,000 equity shares representing 3.79% of the company's paid-up equity share capital. The acquisition was executed through an off-market inter-se transfer from IGE (India) Private Limited on March 30, 2026.

Official Regulatory Compliance

The transaction was formally disclosed through comprehensive regulatory filings submitted to both BSE Limited and National Stock Exchange of India Limited. Company Secretary & Compliance Officer Dipti Sharma filed the disclosure on April 6, 2026, under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, ensuring full regulatory compliance.

Transaction Details: Specifications Shares Transferred: 24,15,000 equity shares Face Value: ₹1/- per share Percentage Acquired: 3.79% Transaction Date: March 30, 2026 Transfer Method: Off-market inter-se transfer Disclosure Date: April 6, 2026

Promoter Group Shareholding Structure

Following the transaction, the comprehensive promoter group maintains its collective holding at 69.86% of International Conveyors' total equity. IGE (India) Private Limited's direct shareholding decreased from 49.71% to 45.92%, while Amaranth Daksha Private Limited entered as a new promoter entity with 3.79% holding.

Major Promoter Holdings: Before Transaction After Transaction IGE India Private Limited: 3,17,02,560 shares (49.71%) 2,92,87,560 shares (45.92%) Surbhit Dabriwala: 80,83,355 shares (12.67%) 80,83,355 shares (12.67%) Amaranth Daksha Private Limited: 0 shares (0.00%) 24,15,000 shares (3.79%) Dabri Properties & Trading: 17,84,000 shares (2.80%) 17,84,000 shares (2.80%) Elpro International Limited: 10,78,788 shares (1.69%) 10,78,788 shares (1.69%)

Additional Promoter Activities

Concurrently, Elpro International Limited, another promoter group entity, acquired 1,46,329 equity shares through open market transactions between December 24, 2025, and March 25, 2026. This acquisition represented 0.23% of the company's equity capital and did not require separate disclosure under Regulation 29(2) as it remained below the 2% threshold.

Elpro International Activity: Details Shares Acquired: 1,46,329 equity shares Acquisition Period: December 24, 2025 to March 25, 2026 Acquisition Method: Open market transactions Percentage Impact: 0.23% Total Holding: 10,78,788 shares (1.69%)

Corporate Capital Structure

International Conveyors Limited maintains a stable equity structure with 6,37,81,000 equity shares of ₹1/- each as paid-up capital. The company's total diluted share capital remains unchanged at 6,37,81,000 equity shares, with no outstanding convertible securities or warrants affecting the capital structure.

The transaction demonstrates strategic internal reorganization within the promoter group while maintaining regulatory compliance and preserving the overall ownership structure. Both IGE (India) Private Limited and Amaranth Daksha Private Limited continue to be classified as promoter group entities under SEBI regulations, ensuring continuity in corporate governance and strategic direction.

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