Shares of Sumeet Industries will remain in focus, as the company’s rights issue opens for subscription on Wednesday and closes on January 10,2018.
The company plans to issue up to 2.487 crore shares at ₹24 a share on rights basis in the ratio of three equity shares for every seven shares held as on the record date of December 18, 2017.
It plans to raise ₹60 crore through the issue to set up a coal-based captive power plant and to fund a new texturising machine.
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