Sangam (India) Limited — Important, 17-04-2025: Memorandum of Understanding/Agreements

Sangam (India) Limited has executed a Memorandum of Understanding with Golden Seams Industries Private Limited to establish a joint venture focusing on denim manufacturing and laundry operations in Orissa. This collaboration aims to leverage both companies’ strengths and expand their presence in the textile sector, with equal shareholding in the new entity. Each party will appoint one director to the board, ensuring balanced governance. This move could enhance Sangam's business portfolio and growth prospects, potentially attracting positive investor sentiment as it aligns with a forward integration strategy in their denim fabric segment.