Srei Infrastructure Finance on Thursday clarified that its subsidiary Srei Mutual Fund Asset Management (AMC), has been exploring opportunities for acquisition of mutual fund and consequently on March 22, 2019 it has entered into a preliminary non-binding term sheet for acquisition of Essel Mutual Fund, subject to all applicable regulatory and government approval, including SEBI.
The said term sheet is subject to execution of definite agreements and other ancillary documents as may be required depending upon the outcome of due diligence being carried on by the AMC.
Keeping in view that the proposed transaction is not definite at this juncture, the disclosure under SEBI regulations is not required to be made, the statement said.