Sumeet Industries completes ₹199.75 Cr Rights Issue for capacity expansion

SUMEETINDS · price

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₹28.77

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₹27.34

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AI summary

Sumeet Industries has completed its ₹199.75 Cr Rights Issue, allotting 16.84 crore shares at ₹11.86 each (ratio 8:25). Paid-up capital rose from ₹105.27 Cr to ₹138.95 Cr. Proceeds will fund working capital (₹100 Cr), the Nakoda CP Plant acquisition (₹49.90 Cr), debt prepayment (₹23 Cr), and a 6.5 MW solar plant (₹22 Cr). The Nakoda CP Plant, to be commissioned in Q1 FY27-28, is expected to nearly double production capacity at 140,000 TPA for Bottle Grade PET Chips. FY26 revenue was ₹1,053.81 Cr.

Likely market impact

Strengthens balance sheet and funds capacity expansion. Capital increase of about 32 percent dilutes existing shareholders' stakes.