Lagnam Spintex’s Executive Director Shubh Mangal bought 1.23 Lacs equity shares from Open Market

Dec 1, 2022

Lagnam Spintex’s Executive Director Shubh Mangal bought 1.23 Lacs equity shares from Open Market
Lagnam Spintex’s Executive Director Shubh Mangal bought 1.23 Lacs equity shares from Open Market

Lagnam Spintex’s Executive Director Shubh Mangal bought 1.23 Lacs equity shares from Open Market

- Lagnam Spintex’s promoter group bought 1.23 lacs equity shares with an average price of Rs. 58.81 per share.
- Lagnam Spintex's Executive Director, Shubh Mangal bought shares from the open market
- Bought the shares from open market between 22nd-30th November 2022
- 1.23 lacs equity shares bought with an average price of Rs. 58.81 per share
New Delhi: Lagnam Spintex, one of the leading manufacturers of high-quality cotton yarns, has reported to NSE that Mr. Shubh Mangal have bought the shares from open market Between 22nd November to 30th November 2022. As per disclosure submitted by the Company under regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015, Mr. Shubh Mangal, Executive Director of the Company, purchased in total 1.23 lacs equity shares with an average price of Rs. 58.81 per share.
Further, the Company has taken effective steps for implementation of the Expansion Project of Rs. 218.00 crores for installation of 41,472 spindles for manufacturing of 100% "Compact" cotton yarn' and spent Rs. 20.25 Cr. on the project as on 30.09.2022. The expansion project is on schedule and shall achieve COD on time.

About Lagnam Spintex:

Lagnam Spintex is a 100% Cotton Ring and Open-End yarn manufacturer to cater to High-End Denims, Terry towels, Home textiles, Bottom wear, Shirting, Sheeting and Knitting segments. We export over 50% of our production and has been recognized as “One Star Export House” by the Director-General of Foreign Trade with a certificate valid from 2017 to 2022. Being one of the pioneer cotton yarn manufacturers globally, we have also received certification from USTER Technologies AG. We have a dedicated in-house Testing and Quality Control Team which undertakes rigorous testing and quality management while making the most out of the existing cutting-edge technology. At Lagnam, we believe in quality above quantity and the team readily ensures that all products are manufactured of the best quality.