- Reliance Petroleum Retail, the wholly owned subsidiary of the RIL, acquired Shubhalakshmi Polyesters Ltd. (SPL) for Rs 1,522 crores and Shubhlaxmi Polytex (SPTex) for Rs 70 crores.
- The Competition Commission of India (CCI) will now review the acquisition and accordingly decide whether or not to approve it.
- SPL was established as a trading company in 1989 with its first manufacturing Plant at Daman.
- SPL produces polyester fiber, yarns, and textile-grade chips through direct polymerization as well as an extruder spinning with a capacity of 2,52,000 tonnes per year.
- The turnovers registered by SPL for FY19, FY20, and FY21, were respectively, Rs 2,702.50 crores, Rs 2,249.08 crores, and Rs 1,768.39 crores.
Question:
Q.1 The Shubhalakshmi Polyesters Ltd. was recently acquired by?a. Vardhman Textiles Ltd
b. K P R Mill Ltd
c. Reliance Industries Ltd
d. Adani Group
