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.
An asset management company is a financial institution that pools funds from investors and invests those funds in various assets like stocks, bonds, and real estate, with the aim of generating returns for its clients. These companies are often referred to as money managers or money management firms. AMCs typically play an important role in the investment industry by offering professional fund management and access to diversified investment portfolios.
Kartik Jain, MD & CEO of Shriram AMC, said today in a statement that its partnership with Sanlam is more than just capital raising— it’s a strong endorsement of the company's approach, which combines data science with fundamental insights.
"With Sanlam’s deep expertise in both quantitative and fundamental analysis, we will further enhance the sophistication of our investment processes and deliver relevant, differentiated solutions to the right customer segments," Jain said.
Industry experts say that this strategic step builds upon Shriram Group’s broader initiative to transform its financial services portfolio.
In 2022, Mission1 Investments LLC acquired a 23% stake in Shriram AMC, marking the first phase of this transformation. Now, with Sanlam’s entry as a co-promoter, the Group is deepening its AMC business, reaffirming its commitment to building a future-ready and inclusive asset management platform, they say.
“India represents a key strategic growth market for Sanlam. Our partnership with Shriram AMC is a testament to our commitment to co-create investment excellence, especially in emerging markets. With more than two decades of successful collaboration with the Shriram Group across financing, life, and general insurance, this alliance builds on a strong foundation of trust and shared values—aimed at delivering impactful, socially-beneficial investments,” says. Roothman, CEO of Sanlam Investments, in the joint statement.
Mission1 Investments' Managing Partner & CIO Gaurav Patankar added that Sanlam is not just as an investor in Shriram AMC but a co-promoter too. "Having two seasoned promoters with shared history, deep expertise, and global pedigree sets the stage for long-term value creation. The opportunity landscape in asset management is as compelling—if not more—than when we first invested in 2022. We believe the long-term upside is exponential.”
Sanlam has already collaborated with the Shriram Group for over 20 years in the areas of financing, life insurance, and general insurance.