https://indianpedia.org/index.php?action=history&feed=atom&title=Indian_Petrochemicals_Corporation_LimitedIndian Petrochemicals Corporation Limited - Revision history2026-08-01T13:24:07ZRevision history for this page on the wikiMediaWiki 1.45.4https://indianpedia.org/index.php?title=Indian_Petrochemicals_Corporation_Limited&diff=209448&oldid=prev>AnomieBOT at 11:32, 10 October 20212021-10-10T11:32:59Z<p></p>
<p><b>New page</b></p><div>{{more citations needed|date=February 2020}}<br />
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'''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.{{cn|date=October 2021}}<br />
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== History ==<br />
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]].<ref>{{Cite web|url=https://dipam.gov.in/en/preliminary-information-memorandum-pim-bidders-indian-petrochemicals-corpltd|title=Preliminary Information Memorandum (PIM) for Bidders - INDIAN PETROCHEMICALS CORP.LTD. {{!}} Department of Investment and Public Asset Management {{!}} Ministry of Finance {{!}} Government of India|website=dipam.gov.in|access-date=2020-02-28}}</ref><br />
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== Consolidation ==<br />
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 (India)|Punjab]]), [[Nagpur]] ([[Maharashtra]]), [[Barabanki city|Barabanki]] ([[Uttar Pradesh]]), Baulpur ([[Orissa, India|Orissa]]), [[Allahabad]] ([[Uttar Pradesh]]) and [[Silvassa]] ([[Dadra and Nagar Haveli and Daman and Diu]]).<br />
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== Disinvestment ==<br />
In June 2002, the [[Government of India]] as a part of its [[Disinvestment of Public Sector Units in India|disinvestment programme]] divested 26% of its equity shares in favour of [[Reliance Industries|Reliance Petroinvestments Limited]] (RPIL), a [[Reliance Industries|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.<ref>{{cite news | url=http://archive.indianexpress.com/news/ipcl-to-merge-with-reliance-industries/25015/ | title=IPCL to merge with Reliance Industries | date=8 March 2007 | newspaper=The Indian Express | access-date=7 July 2018 }}</ref><br />
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==References==<br />
{{Reflist}}<br />
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{{Authority control}}<br />
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[[Category:Formerly government-owned companies of India]]<br />
[[Category:Petrochemical companies of India]]<br />
[[Category:Companies based in Vadodara]]<br />
[[Category:Chemical companies established in 1969]]<br />
[[Category:Non-renewable resource companies established in 1969]]<br />
[[Category:Indian companies established in 1969]]<br />
[[Category:1969 establishments in Gujarat]]</div>>AnomieBOT