{"id":29110,"date":"2026-07-27T14:41:42","date_gmt":"2026-07-27T09:11:42","guid":{"rendered":"https:\/\/wowentrepreneurs.in\/index.php\/2026\/07\/27\/sumeet-industries-limited-completes-%e2%82%b9199-75-cr-rights-issue-to-drive-capacity-expansion-and-long-term-growth\/"},"modified":"2026-07-27T14:41:42","modified_gmt":"2026-07-27T09:11:42","slug":"sumeet-industries-limited-completes-%e2%82%b9199-75-cr-rights-issue-to-drive-capacity-expansion-and-long-term-growth","status":"publish","type":"post","link":"https:\/\/wowentrepreneurs.in\/index.php\/2026\/07\/27\/sumeet-industries-limited-completes-%e2%82%b9199-75-cr-rights-issue-to-drive-capacity-expansion-and-long-term-growth\/","title":{"rendered":"Sumeet Industries Limited Completes \u20b9199.75 Cr Rights Issue to Drive Capacity Expansion and Long-Term Growth"},"content":{"rendered":"<div>\n<p class=\"wp-block-paragraph\"><strong>Surat (Gujarat) [India], July 27: <a>\u00a0<\/a>Sumeet Industries\u00a0Limited,\u00a0(NSE Code: SUMEETINDS, BSE Code: 514211)<\/strong>,\u00a0one of the leading integrated polyester manufacturers engaged in the production of Pet Chips,\u00a0Partially Oriented Yarn (POY),\u00a0Fully Drawn Yarn (FDY) and\u00a0Polyester\u00a0Texturized Yarn, has successfully completed its Rights Issue, with the Board of Directors approving the allotment of\u00a0<strong>16,84,24,217 Equity Shares<\/strong>\u00a0of face value\u00a0<strong>\u20b92 each<\/strong>\u00a0at an issue price of\u00a0<strong>\u20b911.86 per Equity Share<\/strong>, aggregating\u00a0<strong>\u20b9199.75 Cr<\/strong>.<\/p>\n<p class=\"wp-block-paragraph\">The Rights Issue was offered to eligible shareholders in the ratio of\u00a0<strong>8 Rights Equity Shares for every 25 fully paid-up Equity Shares held<\/strong>. The issue remained open from\u00a0<strong>June 22, 2026 to July 20, 2026<\/strong>, enabling existing shareholders to participate in the Company\u2019s growth journey.<\/p>\n<p class=\"wp-block-paragraph\">Consequent to the allotment, the Company\u2019s paid-up equity share capital has increased from\u00a0<strong>\u20b9<\/strong><strong>105.27 Cr<\/strong>, comprising\u00a0<strong>52,63,25,680 Equity Shares<\/strong>\u00a0of face value\u00a0\u20b92 each, to\u00a0<strong>\u20b9<\/strong><strong>138.95 Cr<\/strong>, comprising\u00a0<strong>69,47,49,897 Equity Shares<\/strong>\u00a0of face value\u00a0\u20b92 each.<\/p>\n<p class=\"wp-block-paragraph\">The successful completion of the Rights Issue further strengthens the Company\u2019s capital base and provides the financial resources required to execute its strategic growth initiatives across manufacturing expansion, operational efficiency and balance sheet strengthening.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Proposed Utilisation of Net Proceeds:<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>\u20b9100.00 Cr towards strengthening working capital to support higher production levels and raw material procurement.<\/li>\n<li>\u20b949.90 Cr towards General corporate purpose used for the operationalisation and integration of the Nakoda Limited CP Plant.<\/li>\n<li>\u20b923.00 Cr towards prepayment of borrowings, improving the Company\u2019s financial flexibility.<\/li>\n<li>\u20b922.00 Cr towards setting up a 6.5 MW captive solar power plant to reduce power costs, improve energy security and support sustainable manufacturing operations.<\/li>\n<\/ul>\n<p class=\"wp-block-paragraph\"><strong>Nakoda CP Plant to Drive Next Phase of Capacity Expansion<\/strong><\/p>\n<p class=\"wp-block-paragraph\">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.<\/p>\n<p class=\"wp-block-paragraph\"><strong>The Company plans to modify and recommission the facility during Q1 FY27-28<\/strong>. The plant has an\u00a0<strong>installed manufacturing capacity of 140,000 TPA for Bottle Grade PET Chips<\/strong>, which serve as a key raw material for the Company\u2019s downstream POY and FDY manufacturing operations.<\/p>\n<p class=\"wp-block-paragraph\">Upon commissioning, the\u00a0<strong>facility is expected to approximately double the Company\u2019s existing production<\/strong>\u00a0<strong>capacity<\/strong>, significantly strengthening its manufacturing scale, improving backward integration, enhancing operational efficiencies and supporting future revenue growth.\u00a0<strong>Issue De<\/strong><\/p>\n<figure class=\"wp-block-table\">\n<table class=\"has-fixed-layout\">\n<tbody>\n<tr>\n<td><strong>Commenting on the Rights Issue, Mr. Pratik R. Jaju, Managing Director of Sumeet Industries<\/strong>\u00a0<strong>Limited<\/strong>\u00a0said, \u201cWe are delighted with the successful completion of our\u00a0<strong>\u20b9<\/strong><strong>199.75 Cr Rights Issue<\/strong>\u00a0and 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\u2019s 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.\u201d<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<p class=\"wp-block-paragraph\"><strong>About\u00a0<\/strong><strong>Sumeet Industries<\/strong><strong>\u00a0Limited<\/strong><\/p>\n<p class=\"wp-block-paragraph\">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\u2019ble 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.<\/p>\n<p class=\"wp-block-paragraph\">With over four decades of experience, Sumeet Industries operates a technologically advanced manufacturing facility equipped with international-standard quality testing and R&amp;D infrastructure for developing a wide range of yarns and applications.\u00a0The Board has approved Phase 1 of the polyester yarn capacity expansion, involving an addition of 15,000 tonnes per annum with an investment of\u00a0\u20b930 Cr, aimed at strengthening the company\u2019s presence in the value-added synthetic yarn segment while supporting scale and profitability.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">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<\/p>\n<p class=\"wp-block-paragraph\">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.<\/p>\n<p class=\"wp-block-paragraph\">In FY26, the company recorded revenue of\u00a0\u20b91,053.81\u00a0Cr, EBITDA of\u00a0\u20b960.77 Cr, and Profit After Tax (Including Exceptional Item) of\u00a0\u20b927.33 Cr.<\/p>\n<p class=\"wp-block-paragraph\"><em>If you object to the content of this press release, please notify us at pr.error.rectification@gmail.com. We will respond and rectify the situation within 24 hours.<\/em><\/p>\n<p class=\"wp-block-paragraph\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Surat (Gujarat) [India], July 27: \u00a0Sumeet Industries\u00a0Limited,\u00a0(NSE Code: SUMEETINDS, BSE Code: 514211),\u00a0one of the leading integrated polyester manufacturers engaged in&hellip;<\/p>\n","protected":false},"author":1,"featured_media":29111,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[13],"class_list":["post-29110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/wowentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/posts\/29110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wowentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wowentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wowentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wowentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/comments?post=29110"}],"version-history":[{"count":0,"href":"https:\/\/wowentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/posts\/29110\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wowentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/media\/29111"}],"wp:attachment":[{"href":"https:\/\/wowentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/media?parent=29110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wowentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/categories?post=29110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wowentrepreneurs.in\/index.php\/wp-json\/wp\/v2\/tags?post=29110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}