Shriram Asset Management Company (Shriram AMC) has entered into a strategic partnership with Sanlam, a South Africa’s largest asset manager with $80 billion in AUM. The company has completed a preferential allotment of 38.89 lakh equity shares to Sanlam Emerging Markets (Mauritius) (SEMM), raising Rs 105 crore in growth capital.
With this allotment and the mandatory open offers, SEMM now holds a 23% direct stake in the company and joins as a copromoter alongside existing promoter Shriram Credit Company (SCCL). As a result, total promoter shareholding has increased from 62.55% to 71.17%, and Shriram AMC’s Board will be reconstituted to include Sanlam’s representatives.
Shriram Asset Management Company is an integral part of the ‘Shriram’ Group. The Company act as the Asset Management Company of Shriram Mutual Fund.
