Reverse Merger- Sangam Advisors

Hi Gaurav / VP Folks:

1- Did you get the real intent of reverse merger to become public in FY17?

• No external fund rasing happened after this event.
• Parent company could have executed the EPC business on it’s own.

2- Why OPM fluctuates so widely (15% to 24%, considering only the real business of the last 2 years)?

——————–Notes on shareholding and company information changes from the ARs ———-

• 2015: Corporate information Sangam Advisors Limited Is engaged in business of financial consultancy, & dealing in shares & securities. The Company is a Listed Public Limited Company.

• 2017:

  • CORPORATE INFORMATION Sangam Advisors Limited was incorporated on June 22, 1999 as Sangam Advisors Private Limited. It was converted into a public company on November 18, 2011. The Company is engaged in the business of providing diversified financial services with primary focus in assisting small and medium enterprises (SMEs)
  • CHANGE OF MANAGEMENT/PROMOTERS Pursuant to Share Purchase Agreement dated April 18, 2016 with the existing promoters of the Company and subsequent open offer in accordance with Regulations 3(1) and 4 of the Securities And Exchange Board of India (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011, as amended from time to time, Mr. Pankaj Doshi, Hitesh Doshi, Binita Doshi, Pujan Doshi, Kirit Doshi, Neepa Doshi, Rushabh Doshi and Bindiya Doshi (“Acquirers”) had taken over the control of the management of the Company by acquiring 44.44% equity of the Company. The entire process has been completed on and report dated July 28, 2016 as required under regulation 27(7) of SEBI SAST Regulations, 2011 has been filed with SEBI.

• 2018:

  • CORPORATE INFORMATION: SANGAM RENEWABLESLIMITED (erstwhile known as SangamAdvisorsLimited)(“ theCompany”) wasincorporated on 22nd of June, 1999 as a private company limited by shares. It was converted into a public company on November 18, 2011. The Company is engaged in the business of generation of power through renewable energy sources and also providing consultancy service in this regard. It has its registered office in Mumbai and its energy generation site is located in state of Maharashtra.
  • Promoter sold 6% shareholding in Open Market

• 2020: 71.52% shareholding | Waaree Energies Limited : 52.26 % – 99% Preferential Allotment, Rest Open offer

• 2022: Company Overview: Waaree Renewable Technologies Limited (“the Company”) is a Public Limited Company. The Company is engaged in the business of generation of power through renewable energy sources and also providing Engineering, procurement, and construction (EPC) services in this regard. It has its registered office in Mumbai and its energy generation site is located in state of Maharashtra.