Sanlam invests ₹105 crore in Shriram AMC, enters Indian AMC sector

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

Shriram Asset Management Company Limited (Shriram AMC), part of the Shriram Group, announced a strategic partnership with Sanlam—South Africa’s largest asset manager with $80 billion in assets under management (AUM).

 

Shriram AMC has completed a preferential allotment of 3.89 million equity shares to Sanlam Emerging Markets (Mauritius) (SEMM), raising ₹105 crore in growth capital. With this allotment and the mandatory open offers, SEMM now holds a 23 per cent direct stake in India’s first listed AMC and joins as a co-promoter alongside existing promoter Shriram Credit Company (SCCL). As a result, total promoter shareholding has increased from 62.55 per cent to 71.17 per cent, and Shriram AMC’s board will be reconstituted to include Sanlam’s representatives. 

 

 

“This partnership is more than capital—it’s a strong endorsement of our quantamental approach that fuses data science with fundamental insights. Leveraging its expertise in both quantitative and fundamental analysis, Sanlam will enhance the sophistication of Shriram AMC’s investment processes and help deliver relevant and differentiated investment solutions to the right customer segments. As a result, this strategic partnership will further strengthen the key pillars of our strategy covering the 3Ps of Performance, Products and Placement,” said Kartik Jain, managing director and chief executive officer, Shriram AMC.

 

As part of a broader effort to strengthen and transform its financial services portfolio, Shriram Group previously secured an investment from Mission1 Investments LLC, which acquired a 23 per cent stake in Shriram AMC in 2022. Building on that momentum, the Group is now deepening its AMC business with Sanlam’s strategic investment, reaffirming its commitment to creating a future-ready and inclusive asset management platform, a statement said.

 

“We see India as a strategic growth market, and our partnership with Shriram AMC reflects our commitment to co-creating investment excellence, particularly in emerging markets. With over two decades of successful collaboration between the Shriram Group and Sanlam, this partnership builds on a long-standing legacy of trust, and a mutual vision to create impactful investments that benefit society,” said Carl Roothman, CEO of Sanlam Investments, Sanlam’s asset manager.

 

With over two decades of successful collaboration between the Shriram Group and Sanlam across financing, life insurance, and general insurance, this partnership builds on a long-standing legacy of trust, the company said. “We could not be more excited to have someone like Sanlam join in not just as an investor but also as a co-promoter. To have two promoters with depth, expertise and pedigree that have a long history of working together can only mean strong long-term value creation for shareholders. The opportunity landscape in asset management is as interesting, if not more, than it was in 2022 when we made our initial investment. We see the long-term value creation opportunity here as exciting and exponential,” said Gaurav Patankar, managing partner and CIO, Mission1 Investments.