Shriram Asset Management Company Limited (Shriram AMC), a SEBI-registered mutual fund entity, has officially declared that it does not fall under the category of a “Large Corporate (LC)” as defined under SEBI's latest regulatory framework. The declaration was submitted to the Bombay Stock Exchange (BSE) on April 4, 2025, under Scrip Code: 531359, in compliance with the SEBI Master Circular No. SEBI/HO/DDHS/PoD1/P/CIR/2023/119 dated August 10, 2021, and the updated circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023.

The Large Corporate (LC) framework introduced by the Securities and Exchange Board of India (SEBI) mandates that qualifying listed entities that meet specific financial thresholds must raise a certain percentage of their incremental borrowing through issuance of debt securities in the capital market. This framework was designed to deepen the corporate bond market in India and enhance transparency in the fund-raising activities of large listed companies.

Under these circulars, companies are evaluated on the basis of three key criteria to be categorized as a Large Corporate:

1. Listing on a recognised stock exchange in India,

2. Outstanding long-term borrowings exceeding ₹100 crore as on March 31 of the relevant financial year,

3. A credit rating of “AA and above.”

In the letter submitted by Ms. Reena Yadav, Company Secretary of Shriram AMC, the company has formally confirmed that it does not meet the criteria outlined above and is therefore not obligated to comply with the provisions applicable to Large Corporates, such as quarterly and annual disclosures of debt raising plans.

This declaration aligns with SEBI’s compliance mandate, which requires all listed companies to annually declare whether they qualify as a Large Corporate entity or not. The primary objective of this disclosure framework is to ensure regulatory clarity and facilitate tracking of compliance for companies that may fall within the large borrower segment, thereby bringing greater transparency to corporate bond issuances.

Shriram AMC, being a financial services entity engaged in asset management, operates under a business model that typically does not require extensive long-term borrowing, especially in the form of listed debt securities. As such, it is not unusual for such firms to fall outside the ambit of SEBI’s LC classification. The company's prudent capital structure and operational strategy likely contribute to its non-inclusion under the LC framework.

Additionally, this disclosure reflects Shriram AMC’s continued commitment to corporate governance and regulatory transparency. Filing such declarations even when the company is outside the regulatory applicability shows adherence to good governance practices and builds investor confidence in the company’s compliance culture.

By confirming its non-applicability under the Large Corporate criteria, Shriram AMC ensures that it is not subject to the mandatory 25% debt raising norm through debt securities, as required of companies that fall within the LC classification. This helps the company avoid the associated compliance costs and regulatory obligations tied to bond market participation under SEBI's LC rules.

Shriram AMC’s filing further strengthens its position as a responsible market participant, prioritizing regulatory alignment, while maintaining financial flexibility suited to its operations in the mutual fund and investment management space.

As per the latest information in the disclosure:

• The company is SEBI registered with the code MF/017/94/4.

• It has its registered office in Chembur, Mumbai, along with administrative and business offices in Andheri East and Navi Mumbai.

• The communication was made through official correspondence with BSE Limited, indicating due process was followed.

Investors and stakeholders can rest assured that the company continues to operate within the defined financial boundaries and remains proactive in its regulatory responsibilities.

This declaration is part of an annual exercise, and it’s expected that Shriram AMC will continue to disclose its classification status in the years ahead, as required by SEBI. For now, the confirmation reiterates that Shriram AMC is not a Large Corporate under the prevailing SEBI regulations for FY2025.

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