International Conveyors Limited has announced a significant shareholding change involving the transfer of equity shares within its promoter group structure. The company disclosed that Amaranth Daksha Private Limited has acquired a substantial stake through an off-market transaction from an existing promoter entity.

Share Acquisition Details

The transaction involved the acquisition of 24,15,000 equity shares of face value ₹1/- each by Amaranth Daksha Private Limited. This acquisition represents 3.79% of International Conveyors Limited's paid-up equity share capital and was executed through an off-market inter-se transfer mechanism.

Parties Involved

The transaction represents an internal restructuring within the promoter group ecosystem. IGE (India) Private Limited, one of the existing promoters of International Conveyors Limited, served as the seller in this transaction. The acquirer, Amaranth Daksha Private Limited, is a wholly-owned subsidiary of IGE (India) Private Limited, indicating a strategic reorganization of shareholding within the same business group.

Regulatory Compliance

The company has fulfilled all necessary regulatory requirements following the share transfer. Both the acquirer and seller provided intimations under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 on April 2, 2026. These notifications were submitted to the stock exchanges and the company as mandated by regulatory frameworks.

Impact on Shareholding Pattern

Following this acquisition, Amaranth Daksha Private Limited will be categorized as part of the promoter group in International Conveyors Limited's shareholding pattern. The entity now holds 3.79% of the company's paid-up equity share capital and will be reflected under the Promoter/Promoter Group category in future shareholding disclosures.

Corporate Disclosure

The disclosure was made under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, ensuring transparency in corporate shareholding changes. International Conveyors Limited communicated this development to both the National Stock Exchange of India Limited and BSE Limited, maintaining compliance with listing obligations.

International Conveyors Limited has submitted newspaper publication regarding its postal ballot notice to stock exchanges under Regulation 30 of SEBI Listing Regulations. The company published the notice in Financial Express and Duranto Barta on April 1, 2026, seeking shareholder approval for critical financial transactions through remote e-voting process.

Regulatory Compliance and Publication

The company filed the submission with both National Stock Exchange of India Limited and BSE Limited on April 1, 2026, through a communication signed by Company Secretary and Compliance Officer Dipti Sharma. The submission fulfills requirements under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Key Resolutions for Shareholder Approval

The postal ballot encompasses two distinct agenda items requiring different types of shareholder consent:

E-Voting Timeline and Process

The company has established a comprehensive timeline for the postal ballot process, ensuring adequate time for shareholder participation:

Proposed Financial Arrangements

The first resolution seeks approval for advancing loans, providing guarantees, or offering security to related entities under Section 185 of the Companies Act, 2013. The company proposes revised limits for three key related parties:

These arrangements are designed for efficient surplus cash deployment and meeting working capital requirements of the related entities, with all transactions proposed at market-determined interest rates and terms.

Material Related Party Transactions

The second resolution addresses material related party transactions under Regulation 23(4) of SEBI Listing Regulations. The proposed transactions exceed 10% of the company's annual consolidated turnover, necessitating shareholder approval. The company plans to advance interest-bearing inter-corporate deposits, loans, or provide guarantees to the same three related entities for a period of one year from approval date.

All proposed transactions will be conducted on arm's length basis and in the ordinary course of business. The Audit Committee, comprising independent directors, has reviewed and approved these arrangements, ensuring objective assessment of the proposals. The company maintains adequate cash reserves to execute business plans even after providing the proposed financial assistance.