The Rs 5.07 crore IPO of Mumbai based Sangam Advisors opened for subscription today with a public issue of 23.04 lakh equity shares.

It is engaged in the business of providing diversified financial services with a primary focus in assisting small and medium enterprises (SMEs) in corporate and non-corporate sector in their financial planning, corporate restructuring and fund syndication requirements. 

Sangam intends to use issue proceeds for investments in listed / unlisted securities and financial products.

Equity shares are proposed to be listed on BSE SME platform.

Aryaman Financial Services Limited is the lead manager to the issue.