Sangam (India) Limited has issued a corrigendum to the notice of its Extra-Ordinary General Meeting (EGM), scheduled for August 12, 2026, to incorporate additional disclosures regarding a proposed preferential issue of warrants. The amendment, submitted on July 31, 2026, responds to information requests from the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) dated July 27, 2026, ensuring compliance with regulatory requirements before shareholders vote on the matter.

The company proposes to raise an aggregate amount of up to ₹100,00,08,000 (Rupees One Hundred Crores and Eight Thousand Only) through the preferential issue of 18,00,000 warrants convertible into equity shares at an issue price of ₹555.56 per warrant. The funds are intended to finance capital expenditure for expansion, modernization, and technology upgradation of manufacturing facilities, including cotton yarn, open-end yarn, recycled polyester fibre, denim fabric, and garment manufacturing units.

Allocation of Proceeds

The proceeds from the warrant issue will be utilized across three primary categories, with implementation expected to be completed by March 31, 2029. Capital expenditure constitutes the largest share of the allocation, aimed at civil construction and the purchase of plant and machinery.

Working capital requirements will not be met directly from the issue proceeds but will be financed through bank facilities such as working capital term loans or cash credits upon commencement of commercial production. The company intends to keep unutilized issue proceeds in Fixed Deposit Receipts (FDRs) until deployment.

Promoter Subscription and Shareholding Impact

The entire preferential issue is subscribed by promoters and promoter group entities. There will be no public subscription component. The allotment details are as follows:

Mrs. Krippie Soni, spouse of Managing Director Anurag Soni, is classified as a promoter under Regulation 2(pp) of the SEBI (ICDR) Regulations, 2018, despite currently holding no shares in the company. The filing confirms that there shall be no change in the management or control of Sangam (India) Limited consequent to this issue.

Monitoring and Compliance

Brickwork Ratings India Private Limited has been appointed as the Monitoring Agency to oversee the utilization of proceeds and submit quarterly reports to the stock exchanges. A Practicing Company Secretary’s certificate from Brij Kishore Sharma of B K Sharma and Associates confirms that the warrant issue complies with the SEBI ICDR Regulations. The corrigendum forms an integral part of the EGM notice and must be read in conjunction with the original notice circulated on July 18, 2026.

Sangam (India) Limited has appointed Ranjan Jagetia as an Additional Non-Executive Independent Director, effective July 28, 2026. The Board of Directors approved the appointment via a circular resolution passed on the same date, pursuant to Sections 149, 150, 152, and 161 of the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This appointment addresses a vacancy created by the resignation of Sudhir Maheshwari from the office of Independent Director. Jagetia’s tenure is set for three years, subject to shareholder approval.

The appointment was recommended by the Nomination and Remuneration Committee. Jagetia brings extensive experience in apparel sourcing and investment advisory, currently serving as President of Taj Imports Inc., headquartered in Cleveland, Ohio, USA. He also holds associations with Aarco Uniform, Midwest Impex, Robotco Inc., and Oakwood Business Park, and serves as an Investment Advisor Representative. He holds an MBA from Louisiana Tech University and a Master of Accountancy from Case Western Reserve University. The Board confirmed that Jagetia is independent of management and holds no shares in the company.

Consequent to Jagetia’s appointment and Maheshwari’s departure, the Board reconstituted three key committees effective July 28, 2026, in compliance with Regulation 30 of the SEBI LODR Regulations. The composition changes ensure continued compliance with governance norms regarding independent director representation on critical oversight bodies.

Committee Reconstitution Details

The Audit Committee now includes Dinesh Chander Patwari as Chairman, with Upendra Prasad Singh, Ranjan Jagetia, and Anurag Soni as members. Patwari and Singh are Non-Executive Independent Directors, while Soni serves as Managing Director & Executive Director.

The Stakeholders Relationship Committee comprises Dinesh Chander Patwari as Chairman, Ranjan Jagetia as Member, and Ram Pal Soni as Member. Patwari and Jagetia are Non-Executive Independent Directors, while Soni is Chairman & Executive Director.

The Risk Management Committee saw a change in chairmanship to Vinod Kumar Sodani, Executive Director. The remaining members include Anurag Soni (Managing Director & Executive Director), Upendra Prasad Singh (Non-Executive Independent Director), Irina Garg (Non-Executive Independent Director), and Pranal Modani (Chief Executive Officer).

Governance Compliance

The company disclosed these changes under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III and the SEBI Master Circular. Jagetia is not related to any existing director of Sangam (India) Limited and is not debarred from holding office by any SEBI order or other authority. The disclosures were submitted to both the National Stock Exchange of India Ltd. and the Bombay Stock Exchange Ltd. on July 28, 2026.