RIL acquires Shubhalakshmi Polyesters
By MYBRANDBOOK
Reliance Industries Ltd has acquired the polyester business of Shubhalakshmi Polyesters Limited (SPL) and Shubhlaxmi Polytex Limited (SPTex) for cash consideration of Rs 1,522 crore and Rs 70 crore respectively.
The acquisitions are part of the company’s strategy to expand its downstream polyester business and will strengthen the textile manufacturing business of Reliance. The deal is subject to approval of the Competition Commission of India (CCI) and the respective lenders of SPL and SPTex.
With two manufacturing facilities at Dahej (Gujarat) and Silvassa (Dadra and Nagar Haveli), Shubhalakshmi Polyesters has a continuous polymerisation capacity of 2,52,000 Metric Ton/Annum and manufactures polyester fibre, yarns and textile grade chips through direct polymerisation route as well as extruder spinning with value addition through texturizing.
At Dahej, SPTex operates a plant for the production of texturised yarn. SPL registered turnovers of Rs 2,702.50 crore, Rs 2,249.08 crore and Rs 1,768.39 crore in financial years 2019, 2020 and 2021, respectively. SPTex had turnovers of Rs 337.02 crore, Rs 338.00 crore and Rs 267.40 crore, respectively.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
Autodesk continually pushing the boundaries in the Design and
Autodesk’s vision is of a better world designed and made for all. It inte
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
DRUVA SOFTWARE PVT. LTD.
ALPHAMAX TECHNOLOGIES PVT. LTD.
HIMACHAL FUTURISTIC COMMUNICATIONS LTD.
FIRE BOLTT
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : MADHABI PURI BUCH
Madhabi Puri Buch is the first-female chairperson of India’s markets...
Icons Of India : ASHISH KUMAR CHAUHAN
Ashish kumar Chauhan, an Indian business executive and administrator, ...
Icons Of India : Anil Agarwal
Anil Agarwal, the Founder and Chairman of Vedanta Resources Ltd., is r...
PARTNER SPEAKERS
PSU
GSTN - Goods and Services Tax Network
GSTN provides shared IT infrastructure and service to both central and...
IREDA - Indian Renewable Energy Development Agency Limited
IREDA is a specialized financial institution in India that facilitates...
STPI - Software Technology Parks of India
STPI promotes and facilitates the growth of the IT and ITES industry i...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Dheeraj Pandey, CEO, DevRev
Dheeraj Pandey, Co-founder and CEO at DevRev , has a remarkable journe...
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
Indian Tech Talent Excelling The Tech World - Thomas Kurian, CEO- Google Cloud
Thomas Kurian, the CEO of Google Cloud, has been instrumental in expan...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
