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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.