Shriram AMC sells 23% stake to Sanlam for ₹105 cr

SHRIRAM Asset Management Company has sold a 23% stake to South Africa's Sanlam for ₹105 crore ($12.6 million), as the Indian asset manager looks to deepen its offerings and expand its footprint in the fast-growing domestic asset management market.

- ENS ECONOMIC BUREAU @ Chennai

The deal marks a significant step for Shriram AMC, the country's first listed asset management company, as it brings in a seasoned global investor to bolster its ambitions in India's ₹50 trillion mutual fund industry. The capital was raised through a preferential allotment of 3.89 million equity shares to Sanlam Emerging Mark