The Competition Commission of India (CCI) has approved the proposed acquisition of 20.51 per cent equity stake in Indo Rama Synthetics (India) Limited (IRSL) by Aloke Lohia, a promoter of IRSL, from Brookgrange Investment Limited.
The Competition watchdog has also approved the transfer of 20.51 per cent equity shares of IRSL to Urmila Lohia, a promoter of IRSL, by Aloke Lohia. The transfer would be done by way of gift.
IRSL is engaged in the manufacture and supply of polyester fibres and filaments such as polyester chips, polyester fibres and polyester yarns.