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RIL Acquires Shubhalakshmi Polyesters and Shubhlaxmi Polytex

Published on September 11, 2022
Current Context: Reliance Industries Ltd. (RIL) acquired polyester chips and yarn manufacturer Shubhalakshmi Polyesters Ltd. and Shubhlaxmi Polytex.
RIL Acquires Shubhalakshmi Polyesters and Shubhlaxmi Polytex
  • 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.


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
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