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As on : 19-Sep-2026
Corporate News
19-Sep-2026     12:51

Sumeet Industries allocates Rs 28 crore, converting OCRPs to equity shares for non-promoter investors

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 dated July 16, 2024, and are being converted to equity shares upon expiry of their tenure.

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