Announced Fri, 19 Jun · 17:28 IST
Sumeet Industries Rs 199.75 Cr Rights Issue for expansion, debt cut, solar project
Compliance View source PDF
SUMEETINDS · price
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Price reaction · full curve 14 horizons · vs prior close
+6.1%1-day move
₹25.80
prior close
₹26.51
base price
After-mkt
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AI summary
Sumeet Industries announces Rs 199.75 Cr rights issue at Rs 11.86 per share (ratio 8 for every 25 held). Opens June 22, closes July 20. Use of proceeds: Rs 100 Cr working capital, Rs 49.9 Cr to operationalise 140,000 TPA polyester chips plant acquired from Nakoda, Rs 23 Cr debt repayment, Rs 22 Cr for 6.5 MW solar plant. Company guides around 30 percent revenue growth in FY27 and near doubling in FY28. FY26 revenue Rs 1,053.81 Cr, PAT Rs 27.33 Cr.
Likely market impact
Eligible shareholders can subscribe at Rs 11.86 per share. Funds support expansion and debt reduction, but expect near-term EPS dilution with long-term growth potential.