Sumeet Industries Limited — Others, 09-01-2025: Appointment

Sumeet Industries Limited has announced a board meeting outcome. The Board approved the issuance of 10 crore equity shares at a face value of ₹10 each, raising ₹100 crores as part of a resolution plan with the Eagle Group. Additionally, they appointed Mr. Rohan Dipakbhai Modh as an Executive Director and Mrs. Prachi Ankur Gandhi as an Independent Director, both until the next general meeting. Resignations were accepted from Mr. Manoj Kumar Ganeshmal Jain and Mr. Vikashkumar Kamalsingh Chandaliya as Independent Directors. The company plans to establish a 30 MW solar power plant at a cost of ₹105 crores, expected to lower power costs. Investor sentiment may shift positively given the capital infusion and strategic initiatives underway, presenting potential growth opportunities.