Sanlam

Sanlam acquires 23% stake in Shriram AMC via preferential allotment, joining as co-promoter and reaffirming a two-decade strategic collaboration with Shriram Group

Sanlam joins as co-promoter of Shriram AMC, infusing ₹105 crore to boost quantamental investing and product innovation in India

South Africa's Sanlam has invested Rs 105 crore for a 23 per cent stake in Shriram Group's asset management arm. The transaction marks the entry of Sanlam, an asset manager having over USD 80 billion under management, into the Indian market. It has an over 2-decade partnership with the Chennai-based diversified financial services group. With the investment, Sanlam becomes a co-promoter in Shriram Asset Management Company (AMC) with ShriramCredit Company, a statement said. The overall promoter stake in the listed company will increase to 71.17 per cent from the 62.55 per cent currently, it added. Sanlam Emerging Markets (Mauritius) was allotted 38.89 lakh shares in a preferential allotment, the statement said. It can be noted that the Indian AMC space has been attracting a slew of global players, and Blackrock was among the last major investors to enter the fray through a tie-up with Jio Financial Services. The last few years have seen a steady increase in the Indian AMCs' AUM. Th

Insurer plans to build out its partnership with Shriram Capital Group in India by adding an equal joint venture covering wealth and advice services, doubling down on an initial 2005 investment

Interview with Group CEO, Sanlam Group