Sumeet Industries Limited (NSE: SUMEETINDS, BSE: 514211), an integrated polyester manufacturer producing PET Chips, Partially Oriented Yarn (POY), Fully Drawn Yarn (FDY) and Polyester Texturized Yarn, has successfully completed its ₹199.75 crore Rights Issue, marking a significant milestone in the company’s growth journey.
The Board of Directors has approved the allotment of 16,84,24,217 equity shares of face value ₹2 each at an issue price of ₹11.86 per share, aggregating to ₹199.75 crore. 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 and remained open from June 22, 2026, to July 20, 2026.
Following the successful completion of the issue, the company’s paid-up equity share capital has increased from ₹105.27 crore, comprising 52,63,25,680 equity shares, to ₹138.95 crore, comprising 69,47,49,897 equity shares. The capital raised will strengthen Sumeet Industries’ financial position and provide resources to execute key strategic initiatives focused on manufacturing expansion, operational efficiency improvement and balance sheet strengthening.
As part of its expansion roadmap, Sumeet Industries 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 tonnes per annum (TPA) for Bottle Grade PET Chips, a critical raw material supporting the company’s downstream POY and FDY operations.
Upon commissioning, the facility is expected to approximately double Sumeet Industries’ existing production capacity, enhancing backward integration, improving supply chain efficiency and creating opportunities for sustainable revenue growth.
Commenting on the successful completion of the Rights Issue, Pratik Jaju, Managing Director, Sumeet Industries Limited, said, “We are delighted with the successful completion of our ₹199.75 crore Rights Issue and sincerely thank our shareholders and investors for their overwhelming participation, trust and confidence in Sumeet Industries Limited. This successful capital raise reflects the confidence our investors have placed in our long-term vision and growth strategy. The funds will enable us to accelerate key initiatives, including the operationalisation of the Nakoda CP Plant, which is expected to significantly enhance our production capabilities while strengthening working capital and our balance sheet.”
The company is also progressing with Phase 1 of its polyester yarn capacity expansion plan, approved by the Board, involving an additional 15,000 TPA capacity with an investment of ₹30 crore. The expansion aims to strengthen Sumeet Industries’ presence in value-added synthetic yarn segments while supporting improved scale and profitability.
Sumeet Industries has further invested a 27% stake in HI-URJA TECHNO LLP, a solar power generating company with an installed capacity of 14 MW, to support captive renewable energy sourcing. The company is also exploring additional renewable power procurement opportunities through captive and group captive arrangements involving solar, wind and hybrid energy solutions. With a focus on innovation, Sumeet Industries continues to develop value-added yarn products, including bright and dope-dyed yarns, while expanding its product portfolio to serve diverse applications across the domestic textile industry.
Established in 1988, Sumeet Industries operates a technologically advanced manufacturing facility supported by international-standard quality testing and research infrastructure. The company was taken over by the Eagle Group, the successful resolution applicant, following the Hon’ble NCLT order dated July 16, 2024. The promoters of Eagle Group bring more than four decades of experience in the textile industry, providing strong operational expertise and strategic direction.
