CTL Trusteeship Limited has disclosed a non-disposal undertaking over 50.69% of the equity shares of International Conveyors Limited . The encumbrance, totaling 32,330,080 shares, was created on June 17, 2026, pursuant to a debenture trust deed with Zenox Technology Services Private Limited for secured non-convertible debentures aggregating ₹300 crore.

The disclosure was made to the National Stock Exchange of India Limited and BSE Limited in compliance with Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. CTL Trusteeship Limited is acting as the Debenture Trustee for the benefit of debenture holders. The trust deed contains contractual covenants regarding the equity shares of International Conveyors Limited, which may be considered a non-disposal undertaking and fall within the definition of "encumbrance" under Chapter V of the Takeover Regulations.

Details of the Encumbrance

The acquisition involves shares held by three entities. R.C.A Limited holds 627,520 shares, Amaranth Daksha Private Limited holds 2,415,000 shares, and Zenox (India) Private Limited holds 29,287,560 shares. The total encumbrance represents 50.69% of the total share capital and 50.69% of the total diluted share capital of the target company.

Regulatory and Capital Structure

The equity share capital of International Conveyors Limited before and after the acquisition remains Rs. 63,781,000, comprising 63,781,000 equity shares with a face value of Rs 1 each. The total diluted share capital post-acquisition is Rs. 64,049,000. CTL Trusteeship Limited clarified that it does not belong to the promoter or promoter group of the target company.

International Conveyors Limited has confirmed that its promoters, along with members of the promoter group and persons acting in concert, did not encumber any shares held by the company during the financial year ended March 31, 2026. The declaration ensures that the shareholding structure remains free of liens or charges, providing stability to the company's equity base. This disclosure was filed with the National Stock Exchange of India Ltd and BSE Ltd on April 06, 2026.

Regulatory Disclosure

The confirmation was provided in accordance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was submitted by I G E (India) Private Limited on behalf of all promoters of International Conveyors Limited . The regulation requires periodic disclosures regarding the encumbrance status of shares held by promoters to ensure transparency in the market.

The letter, signed by Director Arpit Tapadia, was addressed to the Listing Department of the NSE and the Department of Corporate Services at the BSE. It explicitly stated that no encumbrance was made directly or indirectly on the shares held by the promoters during the specified financial year. Copies of the communication were also sent to the members of the Audit Committee and the Company Secretary of International Conveyors Limited.