Indian Petrochemicals Corporation Limited

Dear reader, We need your support to keep the flame of knowledge burning bright! Our hosting server bill is due on June 1st, and without your help, Bharatpedia faces the risk of shutdown. We've come a long way together in exploring and celebrating our rich heritage. Now, let's unite to ensure Bharatpedia continues to be a beacon of knowledge for generations to come. Every contribution, big or small, makes a difference. Together, let's preserve and share the essence of Bharat.

Thank you for being part of the Bharatpedia family!
Please scan the QR code on the right click here to donate.

0%

transparency: ₹0 raised out of ₹100,000 (0 supporter)

Indian Petrochemicals Corporation Limited (IPCL) was a petrochemicals company in India. At the time of its divestment to Reliance Industries Limited, its turnover for the financial year 2005-06 had crossed the US $2 billion mark.^{[citation needed]}

History[edit]

IPCL was established on 22 March 1969, as a Government of India undertaking, with the objective of promoting the development of the petrochemical industry in India. The Company began construction of its first petrochemicals complex at Vadodara in 1970. Commercial production at the complex commenced in 1973. The Company’s second petrochemicals complex in Nagothana was commissioned in 1992 and its third complex at Gandhar was commissioned in 1996. In August 1992, the Company’s shares were listed on all the major stock exchanges in India including Bombay Stock Exchange and National Stock Exchange of India.^[1]

Consolidation[edit]

On 1 April 2005, the six polyester companies namely Appollo Fibres Limited (AFL), Central India Polyesters Limited (CIPL), India Polyfibres Limited (IPL), Orissa Polyfibres Limited (OPL), Recron Synthetics Limited (RSL) and Silvassa Industries Private Limited (SIPL) have been amalgamated with IPCL. This marks the entry of the Company in the polyester sector. The polyester units are based in Hoshiarpur (Punjab), Nagpur (Maharashtra), Barabanki (Uttar Pradesh), Baulpur (Orissa), Allahabad (Uttar Pradesh) and Silvassa (Dadra and Nagar Haveli and Daman and Diu).

Disinvestment[edit]

In June 2002, the Government of India as a part of its disinvestment programme divested 26% of its equity shares in favour of Reliance Petroinvestments Limited (RPIL), a Reliance Group Company. RPIL acquired an additional 20% equity shares through a cash offer in terms of SEBI (Takeover Regulations) and held 46% of Company's equity shares. IPCL merged with Reliance Industries Ltd. in 2007.^[2]

References[edit]

↑ "Preliminary Information Memorandum (PIM) for Bidders - INDIAN PETROCHEMICALS CORP.LTD. | Department of Investment and Public Asset Management | Ministry of Finance | Government of India". dipam.gov.in. Retrieved 28 February 2020.
↑ "IPCL to merge with Reliance Industries". The Indian Express. 8 March 2007. Retrieved 7 July 2018.

[1] "Preliminary Information Memorandum (PIM) for Bidders - INDIAN PETROCHEMICALS CORP.LTD. | Department of Investment and Public Asset Management | Ministry of Finance | Government of India". dipam.gov.in. Retrieved 28 February 2020.

[2] "IPCL to merge with Reliance Industries". The Indian Express. 8 March 2007. Retrieved 7 July 2018.

[1]

[2]