Sangam India board OKs $22 million offering of convertibles

By Laura Lutz

Des Moines, Feb. 14 - Sangam India Ltd.'s board of directors approved an issue of foreign currency convertible bonds for up to $22 million at its meeting on Jan. 31

As previously reported, the company's shareholders approved the measure at an extraordinary general meeting on Jan. 27.

Proceeds of the offering will be used to partially fund the company's ongoing expansion and diversification projects.

Sangam is a textile manufacturer based in Bhilwara, India.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.