Sumeet Industries has received an approval to raise funds up to Rs 100 crore for enhancing working capital due to capacity expansion and general purposes. Funds will be raised through further issue of equity shares by way of FPO/ Rights/ QIPs/ ADRs/ GDRs/ preferential allotments to strategic investors. The board at its meeting held on October 08, 2012 has approved for the same.
The company had recently completed its 180 crore expansion program for enhancing its spinning capacity for producing POY and FDY to100000 TPA and setting up new 8.6 MW captive Power Plants thereby enhancing total capacity power capacity to 17 MW.
The company has received overwhelming response in the quality of POY/FDY produced from recently commissioned and full result of this project will be reflected from third quarter of the current year’s operation. The company is excepting its turnover to cross Rs 1,000 crore in the current financial year.
Sumeet Industries is mainly engaged in the business of manufacturing of PET Chips, Polyester Filament Yarn (POY and FDY) and Polypropylene Multifilament Yarn (PPMFY). The company is also recognized as an Export House by the Government of India.
Company Name | CMP |
---|---|
Trident | 37.05 |
Filatex India | 53.73 |
Sutlej Textiles&Inds | 53.32 |
Nahar Spinning Mills | 259.40 |
Nitin Spinners | 340.00 |
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