Mumbai, June 5 -- 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 company's consolidated net profit declined 30.3% to Rs 9.52 crore on 4.7% increase in...