Sangam India inks MoU to acquire 2% stake in DaMENSCH
Sangam India has entered into a non-binding memorandum of understanding (MoU) with DaMENSCH Apparel to acquire 1.73% stake as part of a strategic collaboration to market activewear products.
DaMENSCH Apparel engaged in the business of apparel and related lifestyle products.
The MoU aims to explore a long-term strategic partnership with DaMENSCH, focused on the manufacturing, marketing and selling of seamless and activewear products by Sangam (India).
As a part of MoU, the company will subscribe to 470 compulsorily convertible preference shares for a total investment of Rs 9,99,29,050, resulting in a 1.73% stake in DaMENSCH on a fully diluted basis.
Sangam (India) engaged in the business of manufacturing and selling of synthetic blended, cotton & texturised yarn, fabrics, denim fabrics and readymade seamless garments. The companys consolidated net profit declined 30.3% to Rs 9.52 crore on 4.7% increase in net sales to Rs 734.30 crore in Q4 FY25 over Q4 FY24.
The counter fell 0.54% to end at Rs 405.60 on the BSE.
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