Shriram Asset Management Company has confirmed that funds raised through its Rs. 105 crore preferential allotment are being used as originally disclosed.

For the quarter ended June 30, there was no deviation in the utilization of these proceeds.

The company reported deploying funds towards working capital (Rs. 32.11 Cr), business expansion (Rs. 3.30 Cr), and general corporate purposes (Rs. 5.54 Cr) out of the total Rs. 40.95 Cr utilized so far.

This update, reviewed by the Audit Committee and monitored by ICRA Limited, assures investors about the transparent deployment of capital for stated objectives.