Sumeet Industries Shares Approved For Listing & Trading In Pursuance Of Insolvency Resolution Plan
By Shishta Dutta | Updated at: Jan 7, 2026 02:34 PM IST
Mumbai, June 18, 2025: Sumeet Industries Ltd (BSE: 514211 | NSE: SUMEETINDS) has secured approval for listing and trading of 52,65,136 equity shares of face value ₹10 each, effective June 19, 2025. The listing follows a significant capital reduction under a Resolution Plan sanctioned by the National Company Law Tribunal (NCLT) on July 16, 2024.
Listing Snapshot
| Particulars | Details |
|---|---|
| No. of Equity Shares Listed | 52,65,136 |
| Face Value per Share | ₹10 |
| ISIN | INE235C01028 |
| BSE Code | 514211 |
| NSE Symbol | SUMEETINDS |
| Distinctive Number Range | 1 to 52,65,136 |
| Market Lot | 1 |
| Trading Group | T Group (Trade-to-Trade) |
| Listing Effective Date | June 19, 2025 |
Capital Restructuring: What Changed and Why
Under the Insolvency and Bankruptcy Code (IBC), Sumeet Industries underwent a massive equity restructuring, approved by the NCLT. The restructuring involved a 94.92% reduction in equity capital, converting over 10.36 crore shares into just 52.65 lakh shares.
| Metric | Pre-Reduction | Post-Reduction |
|---|---|---|
| Number of Equity Shares | 10,36,42,389 | 52,65,136 |
| Share Capital | ₹103.64 crore | ₹5.26 crore |
| Shareholder Impact | 94.92% reduction (ratio 4:77) | Fully allotted to public |
| Promoter Holding | 100% extinguished | NIL |
The restructuring resulted in the complete elimination of promoter holdings, making Sumeet Industries a fully public shareholder company. All post-reduction shares have been proportionately allocated to public shareholders.
Trading to Begin Under T Group Regulations
The re-listed shares will trade under the T Group category, meaning all trades will be settled on a trade-to-trade basis, as per the BSE circular dated February 10, 2023. Earlier, a temporary ISIN had been used for demat credits; the current listing uses the permanent ISIN INE235C01028.
This transition aligns with SEBI Circulars CIR/MRD/DP/01/2012 and CIR/MRD/DP/02/2012, ensuring compliance with regulatory norms. The company had previously fixed October 18, 2024, as the record date for implementing the resolution plan.
Behind the Move: What Triggered the Change?
The company had been undergoing financial stress, leading to insolvency proceedings. The NCLT-approved resolution plan involved significant capital restructuring to reduce liabilities and revive business continuity. The drastic capital reduction, elimination of promoter equity, and reallocation to public shareholders signal a new phase for the company. The move also paves the way for transparent governance and potential revival, with market trading resuming on June 19.
About the Company
Established in 1988 and headquartered in Surat, Gujarat, Sumeet Industries Ltd manufactures polyester yarn and other textile products. The company is listed on both the NSE and BSE. Following its insolvency proceedings, it has restructured its capital base to begin afresh under a new ownership structure led entirely by public investors.
REF: https://nsearchives.nseindia.com/corporate/SUMEETINDS_18062025121027_Listing_Approval18062025.pdf
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