 "Labourers in front of an advertisement of Reliance Industries Limited in Mumbai. Photo: Reuters")
Mukesh Ambani-led Reliance Industries on Wednesday announced it has won the bid to acquire Gujarat-based Kemrock Industries' assets in an online e-bidding process for an undisclosed amount.
"Reliance Industries Ltd participated in an online e-bidding process held recently by Allahabad Bank being the leader of the consortium of 11 Banks to sell/dispose off assets of Kemrock Industries & Exports Limited of Vadodara (Gujarat) and has been declared as the winner in the said bid," the company said in its statement.
Elaborating on its rationale to bid for this company, RIL said, it helps foray into new materials like composites and
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