Shriram AMC spurts ~11% as Sanlam becomes co-promoter

27 May 2025 , 02:47 PM

Shriram Asset Management Company Limited’s shares jumped as much as 11% in Tuesday’s intraday session after the business said that South Africa-based Sanlam became a co-promoter of the company.

Sanlam was announced the co-promoter on successful completion of preferential issue of shares.

The business informed the bourses and shareholders that it has completed the preferential allotment of 38.89 Lakh equity shares to Sanlam Emerging Markets (Mauritius) Limited (SEMM).

At around 2.20 PM, Shriram AMC was trading 9.52% higher at ₹485.95, against the previous close of ₹443.70 on NSE. The counter touched an intraday high of ₹494 today.

On completion of this, the business bagged ₹105 Crore in growth capital.

SEMM now has a 23% stake in Shriram AMC. Shriram Credit Company Limited (SCCL), is an existing co-promoter with a 48.16% stake in the company.

After completion of this exercise, shareholding of promoters increased from current 62.55% to 71.17%.

Furthermore, Shriram AMC said that the Board will be restructured to include Sanlam’s representatives.

Sanlam is the largest asset manager in South-Africa having total assets under management of $80 Billion.

Earlier in 2022, Shriram Group received an investment from Mission1 Investment LLC in lieu of a 23% stake in Shriram AMC. 

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