Please find attached certificate from Auditors as per Regulation 169(5) of SEBI ICDR Regulations
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Shriram Asset Management Company has submitted an auditor's certificate from G D Apte & Co confirming compliance with SEBI ICDR Regulation 169(4) for a preferential issue of equity shares. The company allotted 38,88,889 equity shares (face value Rs. 10 each) at a premium to Sanlam Emerging Markets (Mauritius) Limited, for a total consideration of Rs. 105,00,00,030 (about Rs. 105 crore). The auditor verified the company's bank statement dated April 22, 2025 and confirmed that the full consideration was received from the allottee. The certificate is a regulatory filing requirement after the preferential allotment process. Sanlam, a South African financial services major, is the sole allotee in this preferential issue.
This is a positive development — the company has successfully raised about Rs. 105 crore from a reputed foreign institutional investor, Sanlam, which strengthens its capital base and signals continued strategic investor confidence in the asset management business. Shareholders may see this as a vote of confidence, though it also means equity dilution from the preferential allotment.