International Conveyors Acquires Ganesha Ecosphere for Rs 11.28 Crore

27 Nov 2025 , 12:26 PM

International Conveyors Limited has acquired equity shares of Ganesha Ecosphere Ltd, as disclosed under Regulation 30 of the SEBI Listing Regulations, 2015, with details attached as Annexure A.

Ganesha Ecosphere Ltd belongs to the “Other Textile Products” industry and reported a turnover of Rs 1,465.54 crore in FY 2024–25. The acquisition does not fall under related party transactions. The promoters and promoter group of International Conveyors have no interest in Ganesha Ecosphere, and the deal was executed at arm’s length.

The acquisition has been made for investment purposes as part of International Conveyors’ strategy to diversify its portfolio. No governmental or regulatory approvals were required to complete the transaction.

The acquisition is scheduled to be completed on November 26, 2025. The transaction was made through cash consideration, amounting to Rs 11.28 crore. International Conveyors has acquired 1,21,540 equity shares of Ganesha Ecosphere Ltd.

Ganesha Ecosphere was incorporated in 1987 and has emerged as one of India’s leading rPET fibre and rPET yarn manufacturers, producing from pre- and post-consumer PET bottle scrap. The company is managed by a professional team and has a strong track record in recycled polyester production.

The turnover of Ganesha Ecosphere over the last three financial years is Rs 1,466 crore in FY 24–25, Rs 1,123 crore in FY 23–24, and Rs 1,180 crore in FY 22–23. The company operates within India and has no international presence.

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