Reliance Industries subsidiary to acquire polyester business for Rs 15.92bn
Reliance Industries said that its fully-owned subsidiary — Reliance Petroleum Retail Limited (under name change to ‘Reliance Polyester Limited’) has agreed to acquire the polyester businesses of Shubhalakshmi Polyesters Limited (SPL) and Shubhlaxmi Polytex Limited (SPTex) for a total of INR 1,592 crores. Reliance Polyester will pay INR 1,522 crores to Shubhalakshmi Polyesters. The latter […]