After a successful IPO, textile fabric and apparel company Shivalik Global Limited (SGL) is to acquire Shyam Tex International Ltd.(STIL) for Rs25.69 crores ($5.73 million). In the first phase SGL will acquire 60% of the equity capital of STIL. In the second phase STIL will be merged with SGL.

Following the acquisition, SGL will have the benefits of higher capacities and better economies of scale which would be available immediately.