Sumeet Industries has successfully closed a ₹200 crore rights issue, allotting 16.84 crore equity shares at a price of ₹11.86 per share.
The capital raise marks a significant step in the company’s strategy to scale its operations and strengthen its balance sheet.
The integrated polyester manufacturer confirmed that the proceeds will be deployed across several strategic priorities.
A portion of the funds is earmarked for the development of the Nakoda CP Plant, alongside investments in solar power infrastructure to support sustainability goals.
The company also intends to use the capital for working capital requirements and debt reduction, while reserving funds for future capacity expansion.
This move follows earlier announcements regarding the rights issue, which signaled Sumeet Industries' intent to finance growth internally rather than relying solely on debt financing.