International Conveyors acquires stake in Sterling & Wilson Renewable
International Conveyors Limited (BSE: INTLCONV) has disclosed the acquisition of equity shares in Sterling and Wilson Renewable Energy Ltd. The announcement, made under Regulation 30 of the SEBI Listing Regulations, indicates a significant development for the company. Sterling and Wilson Renewable Energy reported a turnover of ₹3,035.37 crore in its last audited financials (FY 2023-24). The cost of acquisition for International Conveyors is ₹3.498 crore, resulting in 138,856 equity shares. Sterling and Wilson Renewable Energy is an end-to-end solar EPC solutions provider from Concept to Commissioning with an asset-light business model. The acquisition is not considered a related-party transaction and does not require any governmental or regulatory approvals. The indicative time period for completion of the acquisition is February 27, 2025.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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