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 announced a Rights Issue for its eligible shareholders aimed at enhancing financial flexibility and supporting the Company’s strategic business priorities.
Rights Issue Overview:
The Board of Directors of Sumeet Industries Limited has approved the terms of a Rights Issue aggregating to ₹199.75 Cr through the issuance of ₹16.84 Cr fully paid-up equity shares.
The Company proposes to deploy ₹49.00 Cr from the Rights Issue proceeds towards the acquisition and operationalisation of Additional 140,000 Ton Per Annum Polyester Chips (CP) Plant acquired from Nakoda Limited in Surat, Gujarat. The project involves a total capital outlay of ₹90.00 Cr; with the balance ₹41.00 Cr being funded through internal accruals. Expected to be recommissioned in Q1 FY27-28, the facility will strengthen backward integration and support the Company’s downstream polyester manufacturing operations.
Key Terms of Rights Issue:
| Rights Issue Size | ₹199.75 Cr |
| Shares Offered | 16.84 Cr Equity Shares |
| Issue Price | ₹11.86 Per Share |
| Face Value | ₹2 Per Share |
| Entitlement Ratio | 8 Rights Shares for every 25 Shares Held |
| Record Date | June 12, 2026 |
| Issue Opens | June 22, 2026 |
| Last Date for Renunciation | July 15, 2026 |
| Issue Closes | July 20, 2026 |
Proposed Utilisation of Net Proceeds (₹ 194.90 Cr)
| Utilisation Category | Amount (₹ Cr) | Purpose |
| Working Capital Support | 100.00 | Higher Production, Raw Material Procurement |
| Nakoda Asset Integration | 49.90 | Fund to operationalisation of Nakoda Limited |
| Debt Repayment | 23.00 | Prepayment of borrowings to reduce debt |
| 6.5 MW Solar Power Plant | 22.00 | To reduce power cost and improve energy security |
Strategically, the proposed capital allocation is focused on four key pillars – manufacturing scale-up, asset integration, balance sheet strengthening, and energy security. Together, these initiatives are expected to enhance operational resilience, improve resource efficiency, and strengthen the Company’s long-term growth platform. The planned investments are intended to strengthen Sumeet Industries’ competitive positioning while supporting sustainable and profitable growth over the long term.
The capital raised through the Rights Issue will support Sumeet Industries next phase of growth by strengthening working capital, accelerating the integration of acquired manufacturing assets, optimizing.