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Reliance Acquires Shubhalakshmi Polyesters For Rs 1,592 Crore

Billionaire Mukesh Ambani’s Reliance Industries Ltd. has acquired polyester chips and yarn manufacturer Shubhalakshmi Polyesters Ltd for Rs 1,592 crore, the company said in a stock exchange filing.Reliance Petroleum Retail Ltd., a wholly-owned subsidiary, executed definitive documents to acquire polyester business of Shubhalakshmi Polyesters Ltd and Shubhlaxmi Polytex Ltd for Rs 1,522 crore and Rs 70 crore respectively by way of slu…

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