Divya Agarwal
Surat (Gujarat) [India], July 27: Sumeet Industries Limited, (NSE Code: SUMEETINDS, BSE Code: 514211), one of the leading integrated polyester manufacturers engaged in the production of Pet Chips, Partially Oriented Yarn (POY), Fully Drawn Yarn (FDY) and Polyester Texturized Yarn, has successfully completed its Rights Issue, with the Board of Directors approving the allotment of 16,84,24,217 Equity Shares of face value ₹2 each at an issue price of ₹11.86 per Equity Share, aggregating ₹199.75 Cr.
The Rights Issue was offered to eligible shareholders in the ratio of 8 Rights Equity Shares for every 25 fully paid-up Equity Shares held. The issue remained open from June 22, 2026 to July 20, 2026, enabling existing shareholders to participate in the Company’s growth journey.
Consequent to the allotment, the Company’s paid-up equity share capital has increased from ₹105.27 Cr, comprising 52,63,25,680 Equity Shares of face value ₹2 each, to ₹138.95 Cr, comprising 69,47,49,897 Equity Shares of face value ₹2 each.
The successful completion of the Rights Issue further strengthens the Company’s capital base and provides the financial resources required to execute its strategic growth initiatives across manufacturing expansion, operational efficiency and balance sheet strengthening.
Proposed Utilisation of Net Proceeds:
- ₹100.00 Cr towards strengthening working capital to support higher production levels and raw material procurement.
- ₹49.90 Cr towards General corporate purpose used for the operationalisation and integration of the Nakoda Limited CP Plant.
- ₹23.00 Cr towards prepayment of borrowings, improving the Company’s financial flexibility.
- ₹22.00 Cr towards setting up a 6.5 MW captive solar power plant to reduce power costs, improve energy security and support sustainable manufacturing operations.
Nakoda CP Plant to Drive Next Phase of Capacity Expansion
As part of its long-term growth strategy, Sumeet Industries Limited has acquired a CP Plant under liquidation from Nakoda Limited, located in Surat, Gujarat.
The Company plans to modify and recommission the facility during Q1 FY27-28. The plant has an installed manufacturing capacity of 140,000 TPA for Bottle Grade PET Chips, which serve as a key raw material for the Company’s downstream POY and FDY manufacturing operations.
Upon commissioning, the facility is expected to approximately double the Company’s existing production capacity, significantly strengthening its manufacturing scale, improving backward integration, enhancing operational efficiencies and supporting future revenue growth. Issue De
| Commenting on the Rights Issue, Mr. Pratik R. Jaju, Managing Director of Sumeet Industries Limited said, “We are delighted with the successful completion of our ₹199.75 Cr Rights Issue and sincerely thank all our shareholders and investors for their overwhelming participation, trust and confidence in Sumeet Industries Limited. The successful capital raise reflects the confidence our investors have in the Company’s long-term vision and growth strategy, and we are grateful for their continued support.This capital will enable us to accelerate our strategic priorities, including the operationalisation of the Nakoda CP Plant, which is expected to approximately double our existing production capacity, while also strengthening our working capital and balance sheet. We remain committed to disciplined execution, enhancing operational efficiencies and creating sustainable long-term value for all our stakeholders. We once again thank our investors for being valued partners in our growth journey.” |
About Sumeet Industries Limited
Incorporated in 1988, Sumeet Industries Limited is a Surat-based integrated polyester manufacturer engaged in the production of Pet Chips, Partially Oriented Yarn (POY), Fully Drawn Yarn (FDY), and Polyester Texturized Yarn. The company has been taken over by the Eagle Group, Successful Resolution Applicant, in pursuance of the Hon’ble NCLT order dated 16 July 2024. The promoters of Eagle Group are seasoned technocrats with over 40 years of experience in the textile industry, bringing strong operational and strategic expertise to the company.
With over four decades of experience, Sumeet Industries operates a technologically advanced manufacturing facility equipped with international-standard quality testing and R&D infrastructure for developing a wide range of yarns and applications. The Board has approved Phase 1 of the polyester yarn capacity expansion, involving an addition of 15,000 tonnes per annum with an investment of ₹30 Cr, aimed at strengthening the company’s presence in the value-added synthetic yarn segment while supporting scale and profitability.
The company has also invested 27% stake in HI-URJA TECHNO LLP, a Solar Power Generating Plant which has installed capacity of 14 MW as a Captive consumer and has been sourcing solar. Apart from this the company has also been weighing to source to get Renewal power (Solar, Wind and Both) under Captive/Group captive from various Generators
Sumeet Industries is also focusing on developing value-added yarns, introducing Bright and dope dyed yarn, and widening its product range to cater to diverse applications within the domestic textile industry.
In FY26, the company recorded revenue of ₹1,053.81 Cr, EBITDA of ₹60.77 Cr, and Profit After Tax (Including Exceptional Item) of ₹27.33 Cr.
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