India’s Sumeet Industries board approves nonconvertible debt issue

By Tali Rackner

Norfolk, Va., March 31 – Sumeet Industries Ltd. informed the Bombay Stock Exchange that its board of directors met on Friday and approved an issue of up to Rs. 500 million nonconvertible debentures.

The board also approved an increase in the company’s borrowing limits to Rs. 12.5 billion from Rs. 10 billion, among other issues.

Surat, India's Sumeet makes polyester chips, polyester filament yarn, polyester pre-oriented yarn, fully drawn yarn, polypropylene yarn and menthol products.

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