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.
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