International Conveyors (ICL) has acquired 3,60,000 equity shares of Religare Enterprise Limited (REL) for 7.50 Cr.

REL operates as a diversified financial services group, spanning SME loans, affordable housing finance, health insurance, and capital markets.

This strategic acquisition is purely for investment purposes, aiming to diversify ICL's portfolio and tap into the growth potential of India's financial sector.

Religare's substantial turnover of 7354.236 Cr in FY25 highlights its market presence, positioning this as a key investment for ICL.