Sangam (India) Limited has issued a postal ballot notice seeking shareholder approval for the appointment of Mr. Ranjan Jagetia as an independent director. The remote e-voting process begins on September 16, 2026, and concludes on October 15, 2026.

The Board of Directors recommends the appointment based on the advice of the Nomination and Remuneration Committee. Mr. Jagetia was initially appointed as an Additional Director in the category of Non-Executive Independent Director effective July 28, 2026. The proposed resolution seeks to formalize his tenure for three consecutive years, ending on July 27, 2029.

Key Voting Details

Shareholders holding equity shares as of the cut-off date, September 11, 2026, are eligible to vote. The company has engaged Central Depository Services (India) Limited (CDSL) to facilitate the remote e-voting facility. The results of the postal ballot will be declared on or before October 17, 2026.

Director Profile

Mr. Ranjan Jagetia holds a Master of Business Administration from Louisiana Tech University and a Master of Accountancy from Case Western Reserve University. He brings extensive experience in international business, strategic management, finance, and apparel manufacturing. Currently, he does not hold directorships in other Indian public companies and has no shareholding in Sangam (India) Limited.

Upon confirmation by shareholders, Mr. Jagetia will serve on the Audit Committee and the Stakeholders' Relationship Committee. His remuneration will comprise fees for attending board and committee meetings, along with reimbursement of expenses incurred for participation.

Sangam (India) Limited allotted 18,00,000 warrants to its promoter group for a total value of ₹100,00,08,000 on September 11, 2026. The preferential issue raises immediate capital of ₹25,00,02,000, representing 25% of the total issue price.

The company priced each warrant at ₹555.56, allowing holders to convert them into fully paid-up equity shares of face value ₹10 each. This transaction follows shareholder approval at an Extra-Ordinary General Meeting held on August 12, 2026, and in-principle approvals from the National Stock Exchange and BSE dated September 7, 2026.

Allotment Details

Seven entities participated in the preferential allotment. The Board resolved the issuance via circulation on September 11, 2026. Promoter group companies Sangam E-com Limited and Nidhi Mercantiles Limited received the largest tranches.

Conversion Terms

Holders may exercise conversion rights in one or more tranches within 18 months from the allotment date, expiring on or before March 10, 2028. Upon conversion, holders must pay the remaining 75% of the issue price, amounting to ₹416.67 per warrant. Unexercised warrants will lapse, and the subscription amount paid will be forfeited by the company.

What the Numbers Show

The allotment does not immediately alter the company’s issued equity share capital. However, full conversion would increase promoter holding from 70.52% to 71.54%, further consolidating control within the promoter group while diluting public shareholding from 27.62% to 26.67%. The upfront collection of ₹25,00,02,000 provides immediate liquidity without immediate dilution of voting rights.