Polus Global Fund has bought two lakh shares of Sangam (India). The fund major, which has sizeable stake in Zee Learn, bought the shares at an average price of Rs 129 a share. Among the major investors in Sangam are General Insurance Corp (2.45 per cent) and LIC (1.85 per cent), while promoters hold 42.80 per cent stake in the textile major.
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.