International Conveyors Limited (ICL) has announced the acquisition of equity shares in Religare Enterprise Limited (REL) for a cash consideration of ₹3.13 crore. The acquisition, which was completed on April 08, 2026, involved the purchase of 1,40,000 equity shares. Religare Enterprises Limited is a diversified financial services group in India, offering services through its subsidiaries in SME loans, affordable housing finance, health insurance, and capital markets. For the financial year 2024-25, Religare Enterprises reported a turnover of ₹7,354.236 crore. The company's turnover for the past three financial years has shown consistent growth, with ₹6,234.786 crore in FY 2023-24 and ₹4,676.456 crore in FY 2022-23. The acquisition is for investment purposes and does not involve related parties or promoters. No specific governmental or regulatory approvals were stated as required for this transaction.
