Hawamahal Finance has reportedly bought 16.35 lakh shares of Sangam India through the open market route. The shares were purchased on an average price of Rs 38, valuing the transaction to Rs 6.21 crore.
Sangam Group has more than 200,000 spindles and 4000 rotors for producing PV dyed yarn, cotton and OE yarn with an enviable reputation for quality, which is underlined by its ISO 9001:2008 certification. The Group is the largest producer of PV dyed yarn in Asia at single location. The Group is a forerunner in manufacturing ready to stitch fabric with the annual capacity to produce 30 million meters of fabric and 40 million meters of denim.