Acquisitions18 Mar 2026, 11:58 am
Sumeet Industries Acquires Nakoda's Chips Manufacturing Plant for ¥23.47 Cr
AI Summary
Sumeet Industries Limited, a leading integrated polyester manufacturer, has been declared as the Successful Bidder for the acquisition of assets at Phase-3: Chips Manufacturing Plant of Nakoda Limited under the Corporate Insolvency Resolution Process. The acquisition includes land and building along with the entire plant and machinery, and is expected to strengthen Sumeet Industries' presence in the polyester value chain, expand its Polyester Chips manufacturing capacity, and enhance production scale and support better integration with its downstream yarn business including POY and FDY.
Key Highlights
- Sumeet Industries has been declared as the Successful Bidder for Nakoda Limited's Chips Manufacturing Plant under the Corporate Insolvency Resolution Process.
- The acquisition includes land and building along with the entire plant and machinery situated at Phase-3: Chips Manufacturing Plant.
- The acquisition is expected to strengthen Sumeet Industries' presence in the polyester value chain and expand its Polyester Chips manufacturing capacity.
- The addition of this facility enhances the company's production scale and supports better integration with its downstream yarn business including POY and FDY.
- The total consideration for the acquisition under slump sale is approximately ¥23.47 Cr.