S.P. Apparels Invests Rs 6 Crore In Sri Lankan Subsidiary To Boost Manufacturing
S.P. Apparels Ltd has infused Rs 6.01 crore (approx. US$ 6,50,000) as equity into its wholly-owned subsidiary, S.P. Apparels International Pvt Ltd (SPAIPL), as part of its strategy to expand global manufacturing operations.
SPAIPL, incorporated in October 2023, is engaged in garment manufacturing and reported a turnover of LKR1.87 million as of March 2025. The transaction, classified as a related party transaction, involves promoters of S.P. Apparels holding directorship positions in the subsidiary.
The company stated that the investment will support business expansion, improve operational efficiencies and leverage strategic advantages in overseas manufacturing.
The acquisition was completed on April 9, 2026, through cash consideration, with S.P. Apparels maintaining 100% ownership in the subsidiary.
