Sumeet Industries Acquires Assets for ₹23.47 Cr to Expand Capacity
Filing Summary
Sumeet Industries Limited has announced the acquisition of assets from Nakoda Limited’s Phase-3 Chips Manufacturing Plant for ₹23.47 Cr. This acquisition, approved by the Board of Directors, aims to expand the company’s polyester chips capacity by approximately 400 tons per day. The transaction is structured as a slump sale and is subject to regulatory approvals. The acquisition is expected to be completed within 180 days from the signing of the Letter of Intent on March 17, 2026. Sumeet Industries focuses on enhancing its polyester production capabilities.
Sumeet Industries Limited has announced the acquisition of assets from Nakoda Limited’s Phase-3 Chips Manufacturing Plant under the Corporate Insolvency Resolution Process. The acquisition, valued at approximately ₹23.47 Cr, was approved by the Board of Directors and involves a slump sale. The assets include land and building measuring approximately 11,534 square meters, along with the entire plant and machinery.
The financial terms of the acquisition involve a total consideration of ₹23.47 Cr. Sumeet Industries will gain 100% control of the acquired assets. The transaction is subject to necessary regulatory approvals. The acquisition is expected to be finalized within 180 days from the date of the Letter of Intent, signed on March 17, 2026.
The acquisition will result in an incremental capacity addition of approximately 400 tons per day of polyester chips, equivalent to about 1,46,000 tons per annum, assuming 365 operating days. These polyester chips will be utilized in spinning units for manufacturing Partially Oriented Yarn (POY) and Fully Drawn Yarn (FDY). The acquisition aligns with Sumeet Industries’ existing business operations and supports the scale-up of its manufacturing capabilities.
Nakoda Limited, based in Surat, was engaged in the manufacturing of polyester chips. The strategic acquisition of these assets will enable Sumeet Industries to expand its polyester chips manufacturing capacity. The proximity of the acquired plant to Sumeet Industries’ existing operations is expected to enhance operational alignment.
The acquisition process is expected to be completed within 180 days from the signing of the Letter of Intent. The transaction is subject to regulatory approvals, if any. The Board of Directors of Sumeet Industries approved the Letter of Intent dated March 11, 2026, confirming the acquisition under slump sale terms.
Sumeet Industries Limited, incorporated in 1988, is a Surat-based integrated polyester manufacturer. The company produces Pet Chips, Partially Oriented Yarn (POY), Fully Drawn Yarn (FDY), and Polyester Texturized Yarn. Sumeet Industries has been taken over by the Eagle Group, following an order from the Hon’ble NCLT dated July 16, 2024. The company focuses on expanding its polyester production capabilities and enhancing its presence in the value-added synthetic yarn segment.