Corporate Action19 Sept 2026, 12:30 pm
Sumeet Industries Allots 84.3 Lakh Shares on OCRP Conversion
AI Summary
Sumeet Industries Ltd has approved the allotment of 84,31,195 equity shares of face value Rs. 2 each to non-promoters. This allotment is a conversion of Optionally Convertible Redeemable Preference Shares (OCRPs) on a preferential basis. The conversion price is Rs. 33.21 per share, including a premium of Rs. 31.21, aggregating to Rs. 28.00 Crores. The OCRPs were originally allotted on December 11, 2024, in compliance with an NCLT approved Resolution Plan. The conversion follows the expiry of the OCRP tenure.
Key Highlights
- Allotment of 84,31,195 equity shares to non-promoters.
- Conversion of Optionally Convertible Redeemable Preference Shares (OCRPs).
- Total issue size aggregates to ₹28.00 Crores.
- Conversion price set at ₹33.21 per equity share.
- Allotment is on a preferential basis as per SEBI ICDR Regulations.
Price Impact
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