Sumeet Industries has received an approval to raise Rs 10 crore from IFCI Venture Capital Funds. The company proposes to issue 15.5% Optionally Fully Convertible Debenture (15.5% OFCDs) to IFCI on preferential basis pursuant to chapter VII of extant SEBI (ICDR) Regulations, 2009.
The board at its meeting held on December 28 has approved the same. Further, an extraordinary general meeting of the company is proposed to be held on January 21, 2013 for obtaining approval from shareholders of the company for the aforesaid preferential allotment.
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 | 39.80 |
Filatex India | 63.12 |
Sutlej Textiles&Inds | 59.06 |
Nahar Spinning Mills | 288.00 |
Nitin Spinners | 353.55 |
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