Latest news with #ShriramAMC
Yahoo
29-05-2025
- Business
- Yahoo
Sanlam invests in Indian asset management firm Shriram AMC
South African asset manager Sanlam has entered into a strategic partnership with Shriram Group's business unit, Shriram Asset Management Company (Shriram AMC). Shriram AMC operates in various financial services, including commercial vehicles, consumer finance, life and general insurance, stock broking, chit funds, and financial product distribution. Under the deal, Shriram AMC has preferentially allotted 3.89 million equity shares to Sanlam Emerging Markets (Mauritius) (SEMM), resulting in a capital infusion of Rs1.05bn ($12.2m). This investment grants SEMM a 23% direct stake in Shriram AMC, marking its entry as a co-promoter alongside Shriram Credit Company Limited (SCCL). Consequently, the total promoter shareholding has risen from 62.55% to 71.17%, prompting a reconstitution of Shriram AMC's board to include representatives from Sanlam. The partnership is part of Shriram Group's strategy to enhance its financial services portfolio. Shriram AMC managing director and CEO Kartik Jain said: '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.' In 2022, the group had already secured an investment from Mission1 Investments, which acquired a 23% stake in Shriram AMC. This latest investment from Sanlam is seen as a continuation of the group's efforts to strengthen its asset management business and create a comprehensive platform for asset management services. Sanlam Investments CEO Carl Roothman 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.' The collaboration between Shriram Group and Sanlam is built on over two decades of joint ventures in various sectors, including financing, life insurance, and general insurance. In November 2024, Sanlam signed a binding agreement with Ninety One to establish a long-term partnership, making Ninety One the primary active investment manager for Sanlam's single-managed local and global products. "Sanlam invests in Indian asset management firm Shriram AMC" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
27-05-2025
- Business
- Business Standard
Sanlam invests Rs 105 crore for 23% stake in Shriram Group's AMC arm
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. The capital raised from Sanlam will be utilised for expanding offerings and attracting talent, the Shriram Group statement said. "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," Shriram AMC's managing director and chief executive Kartik Jain said. He termed the fund infusion a "strong endorsement" of the company's "quantamental approach" that fuses data science with fundamental insights. Shriram AMC's board will be reconstituted to include Sanlam's representatives, it said. Sanlam Investments' chief executive Carl Roothman said India is a strategic growth market for the group, and added that this partnership builds on a long-standing legacy of trust, and a mutual vision to create impactful investments. Shriram AMC had previously received funding from Mission1 Investments LLC in 2022 for a 23 per cent stake. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
New Indian Express
27-05-2025
- Business
- New Indian Express
Global asset management giant Sanlam raises stake in Shriram AMC, becomes co-promoter
CHENNAI: Shriram Asset Management Company Limited or Shriram AMC, a part of the Shriram Group, said on Tuesday it has formed a strategic partnership with Sanlam, South Africa's largest asset manager with $80 billion in assets under management (AUM), making it a stronger player in India's growing asset management industry. As part of the partnership, Shriram AMC has allotted 38.89 lakh equity shares to Sanlam Emerging Markets (Mauritius) Limited (SEMM), raising ₹105 crore in growth capital, which attracts an open offer by Sanlam. Following this, SEMM will hold a 23% direct stake in Shriram AMC—India's first listed asset management company—and it joins Shriram Credit Company Limited (SCCL) as a co-promoter in Shriram AMC. Consequently, total promoter shareholding in the Mumbai-based company has risen from 62.55% to 71.17%, and Shriram AMC's Board will be reconstituted to include Sanlam's representatives. Shriram AMC share price jumped 9.98% to 488 a unit on BSE at 12.48 pm in the early session on Tuesday following the announcement.
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Business Standard
27-05-2025
- Business
- Business Standard
Why did Shriram Asset Management shares zoom 11% in trade today?
Shriram Asset Management share price zoomed 11.3 per cent in trade on Tuesday, May 27, 2025, logging an intraday high at ₹494 per share on BSE. The northward moment in the stock came after the company announced a strategic partnership with Sanlam—South Africa's largest asset manager. At 12:52 PM, Shriram Asset Management shares were up 9.98 per cent at ₹488 per share on the BSE. In comparison, the BSE Sensex was down 0.69 per cent at 81,608.08. The market capitalisation of the company stood at ₹635.22 crore. The 52-week high of the stock was at ₹697 per share and the 52-week low of the stock was at ₹235.35 per share. In the past one year, Shriram Asset Management shares gained 59 per cent as compared to Sensex's rise of 9 per cent. Under the agreement, Shriram AMC has completed a preferential allotment of 3.8 million equity shares to Sanlam Emerging Markets (Mauritius) Limited (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 Limited. 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. 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. About Shriram AMC Shriram Asset Management Company Limited, part of the Shriram Group, was incorporated in 1994. The company received approval from SEBI to act as the Asset Management Company of Shriram Mutual Fund, vide registration no. MF/017/94/4. Shriram AMC offers a mixed product line comprising hybrid, equity, and debt funds so that customers can meet key goals and objectives. With a unique 'quantamental' approach—blending the precision of quantitative analysis with the depth of fundamental research— Shriram AMC aims to help investors grow their wealth confidently and consistently.
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Business Standard
27-05-2025
- Business
- Business Standard
South Africa's Sanlam to become co-promotor at Shriram AMC with 23% stake
South African asset management giant Sanlam has entered India's mutual fund (MF) market with a strategic investment in Shriram Asset Management Company Limited (Shriram AMC). The move cements Sanlam's long-standing partnership with the Shriram Group and deepens its presence in India's fast-growing asset management sector. As part of the deal, Sanlam Emerging Markets (Mauritius) Limited (SEMM) acquired a 23 per cent direct stake in Shriram AMC through a preferential allotment of 38.89 lakh equity shares, infusing ₹105 crore in growth capital. This has increased the total promoter shareholding in Shriram AMC from 62.55 per cent to 71.17 per cent. The partnership extends a two-decade relationship between the Shriram Group and Sanlam, which has already seen collaboration in financing, life insurance, and general insurance. Sanlam joins Shriram AMC's Board as co-promoter Shriram AMC's Board will be reconstituted to include Sanlam's representatives, reflecting the shift in co-promoter status alongside existing promoter Shriram Credit Company Limited. 'This partnership is more than capital—it's a strong endorsement of our quantamental approach that fuses data science with fundamental insights,' said Kartik Jain, Managing Director and CEO of Shriram AMC. He added that Sanlam's expertise will help strengthen Shriram AMC's investment processes and broaden its product suite. India a strategic growth market: Sanlam Sanlam, which manages assets worth $80 billion, sees India as a 'strategic growth market', according to Carl Roothman, CEO of Sanlam Investments. 'Our partnership with Shriram AMC reflects our commitment to co-creating investment excellence, particularly in emerging markets,' Roothman said. The partnership aims to develop innovative investment solutions catering to customers across income segments in India's evolving mutual fund landscape. Building on existing momentum The fresh investment builds on momentum from 2022, when Mission1 Investments LLC acquired a 23 per cent stake in Shriram AMC. Mission1's Managing Partner and CIO, Gaurav Patankar, welcomed Sanlam's entry 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,' he said.
