According to a regulatory filing, Mukesh Ambani's Reliance Industries has received shares worth Rs 600 crore and debentures worth Rs 900 crore, from Sintex as part of its acquisition.
As part of a resolution plan approved by the National Company Law Tribunal, Reliance now controls a 70 per cent stake in Sintex, and jointly owns it with Assets Care and Reconstruction Enterprises (ACRE).
Mukesh Ambani's conglomerate is eyeing an increase in its textile production business after the acquisition of a 92-year-old firm.
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