Corporate News
Sumeet Industries allocates Rs 28 crore, allotting shares to investors following OCRP conversion As on : 19-Sep-26  12:50

Sumeet Industries Limited announced that its board approved the allotment of 84,31,195 equity shares with a face value of Rs 2 each to non-promoter investors for Rs 28.00 crore, following the conversion of Optionally Convertible Redeemable Preference Shares (OCRPs) at a price of Rs 33.21 per share, including a premium of Rs 31.21. The OCRPs were initially allotted on December 11, 2024, as part of a National Company Law Tribunal-approved resolution plan.