Reliance Petroleum Retail Limited (under name change to Reliance Polyester Limited) is set to acquire polyester business of Shubhalakshmi Polyesters Limited (SPL) and Shubhlaxmi Polytex Limited (SPTex) for cash consideration of Rs. 1,522 cr and Rs. 70 cr respectively, aggregating to Rs. 1,592 cr by way of slump sale on a going concern basis.