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Shriram AMC has got shareholders approval to raise Rs 10 crore

The shareholders of Shriram Asset Management Company have given their approval to raise Rs 10 crore through issuing non-convertible preference shares on private placement basis.

The company said in a statement that “Shareholders of Shriram AMC at their annual general meeting held recently authorised the board to issue further capital of Rs 10 crore by way of private placement (of redeemable non-convertible preference shares).”

D Ramanathan, Shriram AMC marketing and sales head said that the firm “would launch differentiated products that would complement investor’s portfolio.”

“Our in depth research capabilities coupled with stock picking abilities has offered superior risk adjusted returns in our current scheme Shriram Equity & Debt Opportunities Fund,” he added.

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