Sangam Renewables has subscribed and allotted 31,875,000 equity shares of Rs 10 each at par amounting to around Rs 31.88 crore of its subsidiary -- Waacox Energy, on rights basis in the proportion of 6250 new equity shares of Rs 10 each, for every one equity shares held by the company.
With the aforesaid subscription and allotment, the equity shareholding of the Company has increased to 31,880,100 equity shares of Rs 10 each, representing 51% of the total paid up share capital of Waacox Energy. The balance 49% stake of Waacox Energy is being held by Aditya Birla Renewables.
Sangam Renewables is engaged in the business of providing diversified financial services with primary focus in assisting small and medium enterprises (SMEs) in corporate and non corporate sector in their financial planning and arranging funds for them.
