Sangam India Allots 18 Lakh Warrants to Promoters for ₹100 Cr

Sangam India Ltd has allotted 18,00,000 warrants convertible into equity shares to its Promoter and Promoter Group on a preferential basis. The total issue size is ₹100.008 crore, with 25% of the issue price (₹138.89 per warrant) already received. These warrants are convertible into equity shares of face value ₹10 each at a price of ₹555.56 per warrant within 18 months. The allotment does not immediately change the company's issued share capital. This move aims to strengthen the promoter's stake and potentially infuse capital upon conversion.