S.P. Apparels Limited (SPAL) announced an equity investment of ₹6,01,63,090 (Rupees Six Crores One Lakh Sixty-Three Thousand and Ninety Only) in its wholly-owned subsidiary, S.P. Apparels International Private Limited (SPAIPL), on April 9, 2026. The investment, made in cash, amounts to USD 6,50,000. SPAIPL, incorporated in Sri Lanka on October 16, 2023, is engaged in the manufacturing of garments. Its turnover as of March 2025 was LKR 1,872,585. This transaction falls within related party transactions as Mr. P. Sundararajan, Managing Director & Promoter of SPAL, and Mr. S. Chenduran, Joint Managing Director and Promoter Group of SPAL, are also directors in SPAIPL. The company stated that the investment in its Sri Lankan subsidiary is intended to expand business operations, considering strategic advantages and cost-effective manufacturing circumstances. The acquisition of shares was completed on April 9, 2026, maintaining SPAL's 100% shareholding in SPAIPL post-transaction.
