Promoter hikes stake in Sangam India

Sangam India’s promoter -- Sangam Business Credit -- has acquired around 5% stake in the company via open market transactions by purchasing 1.80 million shares at a price of Rs 75 per share. Meanwhile, the public shareholder, Withal Commercial has offloaded 1.80 million shares at price of Rs 75 per share.

Sangam is among the top three producers of PV dyed yarn in India with total spindleage of 201,216 numbers. The company also has 30 million metres per annum (mmpa) ready-to-stitch fabric manufacturing capacity, a 52mmpa fabric processing capacity and 40mmpa denim fabric manufacturing capacity.