Sumeet Industries Wins Bid For Nakoda Polyester Chips Plant
Sumeet Industries has emerged as the successful bidder (H1) for the acquisition of assets at the phase-3 chips manufacturing plant of Nakoda under the Corporate Insolvency Resolution Process.
The company’s board has approved the Letter of Intent dated March 11, 2026, confirming the acquisition on a slump sale basis. The transaction, valued at approx. Rs 23.47 crore, includes land and buildings spanning around 11,534 square metres, along with the entire plant and machinery.
Upon completion, Sumeet Industries will gain full control of the acquired assets. The deal remains subject to necessary regulatory approvals and is expected to be completed within 180 days from March 17, 2026.
The acquisition is set to strengthen Sumeet Industries’ manufacturing capabilities in polyester products, including PET chips, partially oriented yarn (POY), fully drawn yarn (FDY) and polyester texturised yarn.
