Sangam India gets nod to increase FIIs limit to 49%

Sangam India has received an approval for enhancement of investment limits of Foreign Institutional Investors (FIIs) from 24% to 49% subject to approval of the members at the ensuing general meeting.

The board of directors at their meeting held on August 04, 2015 has approved for the same. The company has also received approval for an expansion programme having outlay of Rs 198 crore.

Sangam India 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.