International Conveyors Boosts Stake in Central Depository Services (INDIA)

International Conveyors Limited has recently acquired 27,228 equity shares of Central Depository Services (India) Limited (CDSL) for a total consideration of 2.946 crores, as announced today. This strategic move is expected to strengthen International Conveyors' position in the financial services sector. CDSL, one of India's leading and only listed depository, plays a crucial role in the country's securities market by providing depository services to investors. The acquisition of these additional shares demonstrates International Conveyors' confidence in CDSL's growth potential and its commitment to expanding its portfolio in the financial infrastructure space. This development may lead to enhanced synergies between the two companies and potentially impact their market standings.

 

Source: Business Standard