Reliance Polyester closes acquisition of Shubhalakshmi’s polyester business

Reliance Industries said that its fully-owned subsidiary Reliance Polyester has wrapped up the previously announced INR 1,592 crores acquisition of the polyester businesses of Shubhalakshmi Polyesters Limited (SPL) and Shubhlaxmi Polytex Limited (SPTex).

The deal was closed after the receipt of the required approvals.

It was announced in September 2022. Through the acquisition, Reliance Polyester (formerly Reliance Petroleum Retail) will gain a continuous polymerization capacity of nearly 2,52,000 MT/Annum.