Indian Petrochemicals Corporation Limited

Indian Petrochemicals Corporation Limited (IPCL) is a pioneering petrochemicals company in India. It was established on March 22, 1969, with a view to promote and encourage the use of plastics in India. Its business consists of polymers, synthetic fibre, fibre intermediaries, solvents, surfactants, industrial chemicals, catalysts, adsorbents and polyesters. The Company operates three petrochemical complexes, a naphtha based complex at Vadodara and gas based complex each at Nagothane near Mumbai and at Dahej on Narmada estuary in bay of Khambhat. The Company also operates a catalyst manufacturing facility at Vadodara. Backed by strong Research Center, Product Application Centers, Technology Management Centers and Customer Relation Centres the Company is continuously innovating its processes and products. Its turnover for the financial year 2005-06 has crossed the US $ 2 billion mark.

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, India's fastest growing and most admired private sector group founded by visionary entrepreneur Shri Dhirubhai Ambani. RPIL acquired an additional 20% equity shares through a cash offer in terms of SEBI (Takeover Regulations) and currently holds 46% of Company's equity shares.

The Board of IPCL consists of ten directors led by Shri Mukesh Ambani as Chairman, five independent and five non-independent directors.

Effective April 1, 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 (Gujarat).