Sangam India Ltd

EGM results

• EGM held on 12 August 2026 via VC/OAVM; resolutions passed with requisite majority.
• Scrutinizer's Report attached; results to be hosted on Sangam's site and evoting portal.

Resolution

• Special resolution to issue 18,00,000 convertible warrants to Promoters and Promoter Group on a preferential basis.
• Voting outcome pending; Scrutinizer to declare result and submit to exchanges.

Purpose of EGM

• Preferential issue of 18,00,000 warrants to promoters, convertible into equity shares.
• Total size Rs 100.00 crore.

Resolution details

• Type: Special resolution.
• Nature: Warrants issued on preferential basis.
• Key terms: 18,00,000 warrants at Rs 555.56 each.
• Conversion: warrants convertible into equity shares.
• Intended allottees: promoters; no public allocation.
• Total issue size: Rs 100.00 crore.

Use of proceeds & safeguards

• Objects: capex expansion, modernization, automation of facilities.
• Proceeds allocation: 60% plant/machinery, 25% civil construction, 15% general corporate.
• Completion target: by 31 March 2029.
• Proceeds to be held in fixed deposits until full utilization.
• Monitoring agency: Brickwork Ratings; quarterly reporting.

Shareholding impact & governance

• Promoter holding would rise on warrant conversion.
• No board or management changes disclosed in the corrigendum.

Timing & notes

• EGM to be held on 12 August 2026 via VC/OAVM.

Purpose & Key Terms

• EGM to approve preferential issue of warrants to promoters and promoter group.
• Proposed: 18,00,000 warrants convertible into equity shares at ₹555.56 per warrant.
• Total proceeds expected around ₹100 crore.
• Objects: capital expenditure, working capital, and general corporate purposes.
• Promoter group to subscribe in full; list of allottees identified.
• Post-issue holding to be adjusted; no change in management or control.
• Monitoring agency Brickwork Ratings appointed; funds to be kept as FDRs.
• PCS certificate confirming compliance with ICDR Regulations.

Allottees & Post-issue Holding

• Promoter/group allottee list totals 18,00,000 warrants.
• Promoter subscription amount aggregates to approximately ₹100 crore.
• Post-issue holdings: Sangam E-com Limited 19.54%, Nidhi Mercantiles 8.32%.
• Individual post-issue holdings range from ~1.25% to 0.38% among promoters.

Utilization & Governance

• Allocation of proceeds: Capex 25%, Plant/Machinery 60%, General Corporate 15%.
• Working capital to be funded by bank facilities on production start.
• No management change; promoters retain control post-issuance.
• PCS certificate and monitoring by Brickwork Ratings acknowledged.
• Funds to be held in fixed deposit receipts until utilisation.

Financial results approved

• Unaudited standalone and consolidated results for quarter ended 30 June 2026 approved.
• Limited Review Reports enclosed.

Warrant issue approved

• Issuance of up to 18,00,000 warrants on a preferential basis.
• Warrant price Rs 555.56; aggregate up to Rs 100 crore.
• Proposed allottees include promoters and promoter group; seven investors.

Expansion capex

• Capital expenditure of approx Rs 1500 crores approved for expansion.
• Expansion to add capacity, targeted completion by 31 March 2029.

Regulatory & audit disclosures

• Independent limited review of standalone and consolidated results; no material misstatement found.