RIL acquires Shubhalakshmi Polyesters for Rs 1,592 crore
reliance entering into traditional textile industries by acquiring 37.7% shares
in Shubhalakshmi polysters to open new oppertunities in new field to expand their working
this is reliance first acqusition in textile market and there may be big moves we can see in future
reliance is paying whooping amount in cash 1592 crores for deal
they are just waiting approval signal from CCI to get deal done
currently Oil business is the most profitable business for Relaince company.
SPL is producing large amount of textile in india with 2 plants over nation.