Sangam India Ltd Issues Second Corrigendum for EGM Notice
Sangam India Ltd has issued a second corrigendum to its Extra-Ordinary General Meeting (EGM) notice, originally scheduled for August 12, 2026. This update is in response to queries from NSE and BSE regarding a proposed preferential issue. The second corrigendum amends Item No. 1 of the Explanatory Statement, detailing the utilization of proceeds from the preferential issue. The funds will be used for capital expenditure, including expansion, modernization, and technology upgrades across various manufacturing facilities such as cotton yarn, recycled polyester fibre, and denim fabric. The projects aim to enhance capacity, improve efficiency through automation, strengthen integration, reduce costs, and support long-term growth, with an expected completion by March 31, 2029.
Key Highlights
- Second corrigendum issued for EGM notice dated July 18, 2026.
- Addresses queries from NSE and BSE regarding a preferential issue.
- Details capital expenditure plans for manufacturing facility upgrades.
- Projects aim for capacity expansion, efficiency, and cost reduction.
- Expected project completion by March 31, 2029.
Price Impact
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