International Conveyors Ltd Acquires Gulshan Polyols Ltd with a Turnover of 1377.975 Cr.

International Conveyors Limited (the Company) has acquired the Equity shares of Gulshan Polyols Limited. The acquisition is an investment purpose and does not fall within related party transactions. The cost of acquisition is 6.118 Crore. Gulshan Polyols Ltd is India’s leading manufacturer of Ethanol/Bio-fuel, Grain and Mineral based specialty products with three decades of experience. Their business portfolio broadly spans across three main segments: grain processing, bio-fuel / distillery and mineral processing operations. The target entity has a turnover of 1377.975 Cr. as per the last audited financials (FY 2023-24) and is incorporated in India.