International Conveyors Acquires Stake In Jain Resource Recycling

Mumbai, May 13: International Conveyors Ltd acquired equity shares of Jain Resource Recycling Ltd for ₹5 crore as part of an investment transaction disclosed under SEBI Listing Regulations.

International Conveyors said it acquired 87,105 equity shares of Jain Resource Recycling Ltd through cash consideration. The transaction was completed on May 11, 2026, according to the regulatory disclosure submitted to NSE and BSE.

The company stated that the acquisition was undertaken for investment purposes and clarified that the transaction does not fall within related party transactions. It also confirmed that promoter or promoter group entities do not hold any interest in the target company.

Jain Resource Recycling operates in the diversified metals segment. As per the filing, the company and its subsidiaries are engaged in recycling non-ferrous metal scrap and manufacturing products including lead, copper and aluminium alloys.

The target entity reported turnover of ₹7,125.77 crore in FY 2024-25, compared with ₹2,969.58 crore in FY 2023-24 and ₹1,927.01 crore in FY 2022-23, according to details disclosed in Annexure-A of the filing.

Stock Market Snapshot

International Conveyors share price traded marginally higher during Wednesday’s session following the acquisition disclosure. International Conveyors share price rose 0.27% to ₹81.36 as of 10:45 am IST on May 13, 2026, compared with the previous close of ₹81.14.

The stock witnessed limited volatility during the session after opening near the previous closing level, according to exchange data.

Market participants monitored the acquisition in the context of diversification opportunities linked to recycling, metals processing and circular economy-focused businesses.

Company Background

International Conveyors Ltd manufactures and supplies solid woven conveyor belts primarily used in underground mining and industrial material handling applications. The company exports conveyor belting products to multiple international markets.

The company has maintained operations in specialised industrial conveyor systems and related engineering applications for mining and infrastructure-linked sectors.

Jain Resource Recycling, incorporated in 2022, focuses on recycling non-ferrous metals and trading commodities. Its lead ingots are registered with the London Metal Exchange, according to the disclosure.

Conclusion

The acquisition marks International Conveyors’ entry into an investment exposure linked to diversified metals recycling and non-ferrous commodity processing. The transaction also reflects growing corporate interest in recycling-led industrial businesses amid rising focus on resource efficiency and metal recovery.

The disclosure was submitted under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Source:

• https://www.nseindia.com/get-quote/equity/INTLCONV/International-Conveyors-Limited
• https://nsearchives.nseindia.com/corporate/INTLCONV_11052026225146_JainResourceSE.pdf