Pursuant to Regulation 30 read with Schedule III of SEBI (LODR) Reg, 2015, we wish to inform that the Company Committed the initial contribution of Rs. 10 crore in one or more tranches ....
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Systematix Corporate Services will act as Sponsor and contribute up to Rs. 10 crore (in one or more tranches) to India SME Growth Fund – Series 2, a Category I Alternative Investment Fund (AIF). Its wholly-owned subsidiary, Systematix Wealth & Asset Services Pvt Ltd, will act as Investment Manager to the scheme. The investment was approved by shareholders through a special resolution at an EGM held on October 14, 2024, and SEBI approval has been obtained. The AIF is a related party of the company, but the transaction is being done at arm's length. The scheme has a 5-year term from the Initial Closing Date, extendable by up to 2 additional 1-year periods.
This is a capital deployment of up to Rs. 10 crore into a related-party AIF, expanding the company's footprint in the alternative investment space but locking up capital for at least 5 years with no early exit for investors. The move is within the previously approved objects clause, so it is not a surprise strategic shift, though shareholders should note the related-party nature of the investment.